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(U2) Off Lows, But Still Fragile

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Continues to Hold Above Its 10-dma

MNI (London)

The recent move back above the key technical 10-dma (current Gbp0.9032) seen keeping the rate buoyed, with rate able to push up to Gbp0.9070 Monday before it eased off, meeting support at Gbp0.9050. Rate touched an early high in Asia of Gbp0.9064 before drifting lower, again meeting support into Gbp0.9050 ahead of the European open. Fresh sales emerged in Europe which has dropped it back to Gbp0.9038. The 0800BST fix in view, sterling often sees activity around this time. Support seen into Gbp0.9030, a break and clear to expose stronger support into Gbp0.9000. Resistance Gbp0.9064/70.

MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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