Free Trial

Sharp move down to $1.3207 seen prompted as...>

CABLE
MNI (London)
CABLE: Sharp move down to $1.3207 seen prompted as market reacted to a comment
from PM May's office that they are unaware of any plans for a public statement
from PM on Friday. This follows a tweet from Guido Fawkes suggesting she would
say that UK would not agree to be trapped permanently in a customs union. As
mentioned in earlier bullet, break of $1.3230 tripped weaker longs to bale out
and added weight to the reaction. Support seen into $1.3200, a break to expose
stronger support at $1.3184/80. Resistance now seen at $1.3246 ahead of $1.3258.
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.