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EUR/USD's stronger sell off...........>

EURO-STERLING
MNI (London)
EURO-STERLING: EUR/USD's stronger sell off reaction, to strong US Employment
data release, than cable's react allowed EUR/GBP to extend its corrective
pullback from the Aug28 high of Gbp0.9099 to Gbp0.8913. Move touched the base of
its 10-dma 1.0% envelope base, the envelope having basically contained the rate
in recent sessions. The envelope base is not seen as a support in itself but
rate tends not to like trading near or outside of its envelope (topside and
bottom side) and often gets rejected. Since touching Gbp0.8913 the rate has
edged back up to Gbp0.8945, currently around Gbp0.8938. 
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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