Sterling keeps lower to start the session, Brexit can kicked down the road again

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The pound keeps lower on the day amid the ongoing Brexit angst

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The pound is trading to fresh lows for the day, with cable touching 1.3312 and EUR/GBP pushing higher back targeting 0.9100 once again to kick start European trading.

The nudge lower in cable sees the pair now test the 61.8 retracement level of its recent swing move higher from the start of the week @ 1.3322 but the 1.3290-00 region remains a key support region to watch in the big picture.

Beyond that, the Monday low @ 1.3225 will come into play before we revisit 1.3200.

As things stand, there is little scope for optimism or any significant breakthrough over the next two days. After the meeting between Johnson and von der Leyen yesterday, negotiations look set to continue through to the weekend at least.

The new “deadline” is now Sunday but UK’s Raab is suggesting that the can could be kicked down the road even further. Again, never trust a Brexit “deadline”.

The fact that there might not be much positive news to follow in the next few sessions could keep the pound slightly pressured as buyers have to deal with the uneasiness.

But as seen with price action in the past few weeks, this is a market itching to buy up the quid. All it needs is the right headline, so we’ll see if that will come before the weekend.