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Cable tests 1.2200 as EURGBP finds dip demand once again

EURGBP had a look below 0.8900 only to find fresh buyers 21 Oct

GBPUSD had a look at 1.2250 in early trading with an option interest at 1.2245 noted before retreating to 1.2225 on general USD demand but found bids there as EURGBP fell through 0.8900.

Demand into 0.8885 though found the pair back up through 0.8900 then 0.8920 helped by EURUSD trying to get back above 1.0900 with large option interest there too.

GBPUSD was slapped down to 1.2205 but decent bids/support there has prevented further decline although the pair still looks heavy as I type at 1.2214.

The headlines may have been shifted in focus onto the euro in recent sessions but the Brexit uncertainty is never far away.

The EURGBP/GBPUSD correlation plays out yet again .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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