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EURO-STERLING: Election outlook boosted sterling Monday, allowed EUR/GBP to
extend recent easing to Gbp0.8522 before it recovered to Gbp0.8552 ahead of the
close. Consolidation between Gbp0.8544/52 through the early part of Asia before
rate swooned to Gbp0.8542 in opening European trade. Rate continues to trade
within the lower portion of its 1.0% envelope, drawn around the 10-dma. The base
currently comes through at Gbp0.8494, with the 10-dma at Gbp0.8580. Interim
support now seen into Gbp0.8520, with technical support noted at Gbp0.8490.