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Break below Gbp0.8500 support now.....>

MNI (London)
EURO-STERLING: Break below Gbp0.8500 support now sees rate challenging Fibonacci
support at Gbp0.8472(38.2% of the recovery from Gbp0.8277 to Gbp0.8592). Break
here to expose a deeper move toward the base of the 1.0% 10-dma envelope, which
by time has eased to Gbp0.8444, with the 50% retrace level sitting behind at
Gbp0.8435. No sign of any RHS interest in EUR/GBP, could this appear Thursday?
Drive seen from demand for cable into the 1600GMT fix, as well as interest to
buy GBP/JPY. 
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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