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EURO-STERLING
MNI (London)
EURO-STERLING: Cross edged away from its 10-dma Monday, after probing below
earlier in the day. Cable's recovery through the NY session, after the USD came
under general pressure in this session, trailed EUR/USD's stronger bounce which
saw the cross edge to Gbp0.8407, closing the day back at Gbp0.8394.
Consolidation in Asia saw rate confined within Gbp0.8390/00, extending the base
to Gbp0.8383 in early Europe. 
- While rate holds above the 10-dma (Gbp0.8352) seen keeping the underlying
buoyant tone in place with the topside of the 1.0% 10-dma envelope at Gbp0.8435
seen exposed, with interim resistance noted at Gbp0.8407 and Gbp0.8415. Support
Gbp0.8380.  
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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