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General sterling weakness allows......>

MNI (London)
EURO-STERLING: General sterling weakness allows EUR/GBP to stretch up to test
the topside of its 2.0% 10-dma envelope at Gbp0.9190, the highest level since
Sep 2017 (Gbp0.9226). Cross usually doesn't like to trade outside of its 1.0%
envelope and will try to ease back within, helped in part as the 10-dma edges
higher due to current spot level. Brexit the main driver, PM Johnson Monday
suggested he would walk a thousand miles to get an improved deal with the EU,
countering earlier comments from his Brexit Minister Gove who had earlier said
that no-deal was the government's central theme. Expect resistance at that
Gbp0.9190 level, a break of Gbp0.9200 to expose that Gbp0.9226 level. Minor
support seen into Gbp0.9150. 
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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