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Having seen rejection away from the...>

EURO-STERLING
MNI (London)
EURO-STERLING: Having seen rejection away from the mentioned 10-dma 1.0%
envelope Friday, line came through at Gbp0.8965, topped out at Gbp0.8958, rate
saw a low of Gbp0.8911 Monday. Cross recovered to Gbp0.8933 in NY before it
settled between Gbp0.8920/27 through Asia. Rate retains an underlying heavy tone
into Europe, though seen struggling to revisit yesterday's low. By time the
10-dma has edged up to Gbp0.8887, edging the topside of the 1.0% envelope to
Gbp0.8976. Interim resistance now seen at Gbp0.8927, Gbp0.8933-47 ahead of
Gbp0.8958. Stronger resistance now seen between Gbp0.8965/70. Support Gbp0.8911
through to Gbp0.8900. 
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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