Senior Analyst at Danske Bank Jens Pedersen noted the relevance of the 0.8700 level in the European cross. Key Quotes “GBP remains supported by rising Brexit optimism and EUR/GBP fell close to 0.87 last night. There are a lot of reports in the media that both the EU and the UK officials could soon declare that ‘decisive progress’ has been made in negotiations”. “Technically, the key support level is seen just below 0.87 in EUR/GBP (0.8698) and a break below this level could open up for additional GBP appreciation near term. However, Theresa May still faces a major hurdle in getting the deal approved by her cabinet and later by parliament”. “Hence, while the knee-jerk reaction to a Brexit deal announcement is likely to send EUR/GBP lower, we could see the cross quickly rebounding again until a deal has been approved by parliament. Hence, expect GBP to remain very volatile in coming months, and corporates hedging GBP income should consider taking advantage of the recent GBP appreciation to build up hedges for 2019. We recommend hedging via ratioed risk reversals”. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Official: Italy said to be not planning any change to the budget for now – Bloomberg FX Street 3 years Senior Analyst at Danske Bank Jens Pedersen noted the relevance of the 0.8700 level in the European cross. Key Quotes "GBP remains supported by rising Brexit optimism and EUR/GBP fell close to 0.87 last night. There are a lot of reports in the media that both the EU and the UK officials could soon declare that 'decisive progress' has been made in negotiations". "Technically, the key support level is seen just below 0.87 in EUR/GBP (0.8698) and a break below this level could open up for additional GBP appreciation near term. However, Theresa May still faces a major hurdle in… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
