From the FXWW Chatroom: Fresh news reports are suggesting that Theresa May has reached agreement with her senior cabinet colleagues to significantly increase the Brexit divorce bill, with some suggesting a doubling of the amount to £40bn. However, that’s not been confirmed and, even if it is, the offer is likely to come with several conditions attached. Hence, how the EU responds to the new offer will be just as, if not more, important than simply the amount involved. That explains the relative lack of movement yesterday and overnight with cable and EUR GBP confined to narrow ranges. EUR GBP has drifted lower though and looks susceptible technically now we are trading below 0.8870. For cable, resistance comes in at 1.3320/40, support at 1.3170.
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