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Sterling gets a react lift as Reuters carry...>

CABLE
MNI (London)
CABLE: Sterling gets a react lift as Reuters carry a source report saying 'EU
Brexit Negotiators Believe Divorce Deal With Britain Is 'Very Close' - EU
Diplomatic Sources'. Cable, which had retested Thursday's NY pullback low of
$1.3003 in opening Europe trade, has bounced to $1.3036, though so far holds off
a retest of Thursday's high of $1.3041. EUR/GBP extends its recent pullback low
to Gbp0.8830. Move lower in the cross seen easing toward the base of the 10-dma
1.0% envelope, currently coming through at Gbp0.8804, not a support line in
itself but rate tends not to 'like' trading close, nor outside, the envelope
parameters for long and will often prompt a sharp correction. 
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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