⚠️💶Short Gamma Likely to Push EUR/USD to 1.1200: Cable FX Macro

• EUR/USD has potential to extend losses after the downside recorded in September. First, the French risk premium is extending significantly, and while the dollar shares some of that fiscal profile concerns, the Fed is priced in to tighten at a pace. Second, I have seen demand for strikes in near-term expiries going down to 1.1200. The break below 1.1300 could push volatility gains higher; premiums favor EUR/USD downside.