Cable's pullback from its highs of....>

EURO-STERLING: Cable's pullback from its highs of $1.3028 to a low of $1.2909

Friday trailed EUR/USD's stronger reaction to the release of strong US Jobs

data. This in turn allowed EUR/GBP to extend its recent easing, meeting support

into the base of its 10-dma 1.0% envelope, Friday coming through at Gbp0.8913.

The cross recovered above Gbp0.8950 before it settled around Gbp0.8940 into the

close. Rate touched an early low of Gbp0.8933 in early Asia before it edged back

to settle around Gbp0.8940 through the balance of the session, with more

interest seen in USD plays. This 10-dma 1.0% envelope has proved interesting

technically, the rate not liking a move outside and will often be repulsed. The

base of the envelope has moved down to Gbp0.8901 with the 10-dma currently at

Gbp0.8991.