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Cross extended its recovery to........>

EURO-STERLING
MNI (London)
EURO-STERLING: Cross extended its recovery to touch the topside of its 1.0%
10-dma Wednesday, by time had moved to Gbp0.8437, with rate tracking this line
in Thursday trade, currently coming through at Gbp0.8451. As mentioned before,
the envelope is not a support/resistance line but rate tends not to like being
outside of these parameters for too long, often getting rejected back toward its
10-dma(currently at Gbp0.8367). Month-end approaching and Wednesday's move
picking up suggestions that the demand could have been linked to this. Next
resistance seen between Gb;0.8458/63, a break to open a move toward Gbp0.8500.
Topside of the 2.0% 10-dma envelope currently at Gbp0.8534. Interim support
noted at Gbp0.8385/80. 
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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