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Strength seen on the back of Merkel........>

STERLING
STERLING: Strength seen on the back of Merkel comments reported by Reuters:
GERMANY'S MERKEL SAYS WE CAN WORK ON FINDING A REGIME THAT KEEPS GOOD FRIDAY
AGREEMENT AND ALSO ENSURES INTEGRITY OF EU SINGLE MARKET - Reuters
GERMANY'S MERKEL SAYS CAN ALSO FIND A BACKSTOP SOLUTION BY 31 OCT- Reuters
There doesn't appear to be anything new that wasn't said yesterday (which in
itself wasn't really new news) but sterling is nevertheless reacting.
- Key resistance for GBPUSD was originally seen at 1.2210 and we seem to be
approaching the July 31 high of 1.2250. We had noted earlier that a move above
1.2210 would signal a short-term reversal and the start of a correction and open
up a move toward the top of the channel at 1.2316.

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