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Free AccessElection outlook boosted sterling.....>
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.
Resistance Gbp0.8550/60.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.