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Free AccessRemains Below its Key 10-dma at Gbp0.8958.
- 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.
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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.