Pressured to Gbp0.9099 in initial.....>

EURO-STERLING: Pressured to Gbp0.9099 in initial demand before punching through

to Gbp0.9118, the move providing the weight to take cable to a fresh YTD low of

$1.1994, after stops were triggered on the break of previous YTD low of $1.2015.

Cross currently trades back around Gbp0.9109(Sep02 high). Cross seen building on

its move above its 10-dma, currently coming through at Gbp0.9075, which if

maintained seen exposing the topside of its 1.0% 10-dma envelope, currently at

Gbp0.9166. Interim resistance seen at Gbp0.9120/25 ahead of Gbp0.9146(21-dma). 

- PM Johnson threat of calling a snap general election, Oct14 being mentioned by

several political pundits, if he doesn't get the support of 'rebel' Conservative

MP's. Talk also that Labour, though wanting a general election, will not support

one if it is called ahead of the Oct31 Brexit deadline. Johnson needs a 2/3

majority in parliament to call an election.