It's been a choppy day with GBPUSD's..........>

CABLE: It's been a choppy day with GBPUSD's trading range almost 2.5 big figs.

- GBPUSD moved as high as 1.2990 this morning on the back of initial comments

from Barnier that a Brexit deal had been agreed, followed by confirmation from

other sources. This marked the highest level for the pair since May 13, when

former PM Theresa May was trying to salvage her deal through negotiations with

the Labour party.

- However, GBPUSD began to pare its gains initially on headlines that the DUP

would not support the deal due to concerns over VAT and consent. GBPUSD took

another leg lower shortly after the NA open on the back of further headlines

from the DUP that the UK parliament's Saturday vote on the deal would "only be

the start of a long process". GBPUSD reversed its gains and headed back toward

the lows of the day, just above 1.2750.

- We now sit at 1.2815 and the technical picture for GBPUSD remains bullish.

Momentum indicators are moving back away from overbought territory with the RSI

falling back below 70 at the time of writing. 1.30 remains a psychological

target with the 200-dma providing support at 1.2714.