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Back Below Key 10-dma

EURO-STERLING
MNI (London)

Sterling strength Tuesday allowed the cross to break back below its key technical 10-dma(current Gbp0.9025) relieving the recent bullish tone, though rate unable to place any pressure on the topside of its 1.0% 10-dma envelope (current Gbp0.9116). Rate remains below the 10-dma ahead of UK Inflation data release at 0700BST. Support is seen into Gbp0.9000, a break to open a deeper move toward Gbp0.8970. Back above the 10-dma negates this outlook.

MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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