On Watch For Brexit Headlines

Volatile session Thursday for sterling as the pound was knocked backwards and forwards by Brexit negotiation comment through the day. Rate was knocked to an early low in Europe of $1.2820, from a European opening high of $1.2850, only to bounce back to $1.2978 in early NY before it settled around $1.2885 into the close. EUR/GBP saw rate push above its key 10-dma during the early sterling sell off but settled, then closed below which keeps the underlying sterling tone buoyant(current 10-dma Gbp0.9131). Risk off tone through Asia saw cable ease off off to $1.2838 as markets reacted to US Trump's announcement that he had tested positive for COVID-19. Risk saw some relief as Trump's physician said he and the first lady were so far not showing any symptoms, cable edging back to $1.2886. Brexit headlines continue to dictate moves. US Employment Report at 1330BST provides main data interest. Cable support $1.2838 ahead of Thursday low of $1.2820, then $1.2800. Resistance $1.2900/10, $1.2950, $1.2980.