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Remains Below its Key 10-dma at Gbp0.8958.

EURGBP
MNI (London)
  • Continues to hold below its key technical 10-dma, which currently comes through at Gbp0.8958..
  • Sterling retains an underlying general buoyant tone on hopes that recent press reports prove correct that a break through in the ongoing Brexit trade negotiations sees a break through early next week.
  • On this note it has been noted that interest in EUR/GBP EUR puts for today's NY cut have emerged. Gbp0.8925 has E733mln, Gbp0.8900 E645mln and Gbp0.8775 E978mln.
  • Whilst rate holds below its 10-dma seen keeping downside favoured with the base of the 1.0% 10-dma envelope exposed at Gbp0.8868. Interim support interest seen at Gbp0.8930 , stronger between Gbp0.8915/00.
  • A break and hold above the 10-dma counters this bearish outlook.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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