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GBP/USD rallies through the day's highs....>

STERLING
STERLING: GBP/USD rallies through the day's highs on little news or pick up in
volumes. Stops in GBP/USD appear to be have been tripped on the way through the
overnight highs with some contacts suggesting some GBP/USD sell recommendations
out last week hinged on a close below 1.27. Failure of this to materialise may
have prompted some of these positions to unwind. EUR/GBP failed to break below
Friday's lows of Gbp0.8936 on the move, which remains the first support level.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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