Month-end EUR/GBP demand provided some........>

CABLE: Month-end EUR/GBP demand provided some counter to recent sterling

buoyancy, the buying able to edge the cross from Gbp0.8538 to a high of

Gbp0.8586. The move had pressed cable back to $1.3273 as it further extended its

corrective pullback away from Wednesday's high of $1.3350. As cross demand faded

so sterling recouped losses which allowed cable to edge back to $1.3319 ahead of

NY. Release of stronger than forecast US GDP, followed by strong Chicago PMI,

provided a general boost to the USD and pressed cable to $1.3264. Rate recovered

again, this time influenced by the 1600GMT (USD sales were expected), touched

$1.3316 before it fell to a fresh intraday low of $1.3254 after the Europe

close. Rate trades around $1.3270 at writing.

- Cable support $1.3250, $1.3235/30, $1.3200. Resistance $1.3300, $1.3320,

$1.3350. 

- Brexit remains key sterling driver, the market remains optimistic that no-deal

has been moved to the background. 

- Friday sees release of UK Mfg PMI(market median 52.2, last 52.8), along with

UK Mortgage and money supply data.