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Jun 13 - 07:55 AM

EUR/GBP - Within Strike Of 0.8440 Expiry Amid France Focus

By Rob Howard  —  Jun 13 - 06:00 AM
  • Large 0.8440 option expiry for Friday's NY cut helps to anchor EUR/GBP

  • The size of the strike is 1.1 billion euros (big expiries can be magnetic)

  • 0.8419 was Wednesday's low: half-a-pip shy of Tuesday's 22-month low

  • Tuesday's low was plumbed as French political jitters weighed on the euro

  • French election outcome is far from certain - unlike UK election on July 4

  • 0.8475 and 0.8500 are EUR/GBP resistance levels. 0.8475 = GBP/EUR 1.18

Source:
Refinitiv IFR Research/Market Commentary

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