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Continues to trade with a heavy tone,.........>

CABLE
MNI (London)
CABLE: Continues to trade with a heavy tone, little in the way of recovery
respite so far since the start of Europe. Rate has extended its corrective
pullback away from overnight Asian high of $1.3176 to $1.3132. Next minor
support seen at $1.3125(76.4% $1.3109/76) ahead of $1.3115/09. Demand for
Eur/Gbp seen driving as the cross extends its recovery off early Asia low of
Gbp0.8799, through Tuesday's high of Gbp0.8833 on to Gbp0.88385. Expect some
resistance between GBp0.8845/50, with a swing target level close behind at
Gbp0.8854. 
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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