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Broke below its 10-dma Wednesday as...>

EURO-STERLING
MNI (London)
EURO-STERLING: Broke below its 10-dma Wednesday as sterling made corrective
gains across the board. The 10-dma today comes in at Gbp0.8904 with the base of
the 1.0% envelope at Gbp0.8815. Cross touched a low of Gbp0.8873 yesterday,
retested this level in early Europe and currently holds around Gbp0.8880. Tech
support seen at Gbp0.8871 May12 low, stronger into Gbp0.8861(20-day EMA, 23.6%
Gbp0.8490-0.8975). Resistance at the Asia high of Gbp0.8886 ahead of Gbp0.8900. 
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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