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Cable trailed EUR/USD's stronger......>

EURO-STERLING
MNI (London)
EURO-STERLING: Cable trailed EUR/USD's stronger corrective pullback Friday which
in turn allowed EUR/GBP to ease from its earlier high of Gbp0.8933 to Gbp0.8891
into its close. Rate maintained the move back below Gbp0.8900 in Asia and has
extended the pullback to Gbp0.8887 in early Europe as market reacted to EU
Barnier comments suggesting the EU is looking to ease the Ireland border issues
in Brexit negotiations. The recent easing in EUR/GBP has seen the 10-dma move
lower, in consequence the base of its 1.0% envelope(drawn around that 10-dma)
has moved down to Gbp0.8848. Initial support seen into Gbp0.8883, resistance
into Gbp0.8895/0.8900. Brexit headlines remain the key driver in sterling.
European Council meeting Wed/Thu this week will see Brexit discussed. UK
Inflation data Wed, UK Retail Sales Thu.  
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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