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Corrective pullback away from the.....>

EURO-STERLING
MNI (London)
EURO-STERLING: Corrective pullback away from the YTD high of Gbp0.9324 (Aug12)
met support at Gbp0.9029 (Aug22) before it edged back to Gbp0.9109 in Monday's
UK holiday thinned trading session. Cross, which had probed below the base of
its 1.0% 10-dma envelope last Thursday (Aug22) has now recovered back within,
the base of the envelope having eased by time to Gbp0.9033, whilst the 10-dma
eases to Gbp0.9124. While rate holds below the 10-dma it keeps hopes alive for
another move lower, a break above to expose the top of the envelope, currently
coming through at Gbp0.9215.  
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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