Free Trial

Moves in the UK parliament to block...>

EURO-STERLING
MNI (London)
EURO-STERLING: Moves in the UK parliament to block a no-deal Brexit provided
sterling with some relief. EUR/GBP, which had spiked up to Gbp0.9148 on Tuesday,
extended its corrective pullback through Wednesday and into the Asia open
Thursday, to Gbp0.9000. Consolidation through the Asian session saw rate
contained within a range of Gbp0.9000-17 with early Europe providing some added
pressure on the pound as rate edged on to Gbp0.9025. Underlying tone remains
bearish, following the rejection Tuesday away from the top of the 1.0% 10-dma
envelope and move back below the 10-dma. If rate can remain below the 10-dma
(current Gbp0.9057) it turns downside focus on the base of the 1.0% envelope,
current Gbp0.8967, though needs a break below Gbp0.9000 interim support to
confirm. 
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.