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Having tracked just below its 1.0%....>

EURO-STERLING
MNI (London)
EURO-STERLING: Having tracked just below its 1.0% 10-dma envelope last week, the
rate has bounced back within the envelope as market reacted to Brexit headlines
in the weekend press as UK negotiations again look to be floundering. The cross
spiked up to Gbp0.8774 in opening European trade, but recovery was given some
reprieve as the EUR lost ground across the board as EUR/USD broke key support at
$1.1300. Technical gap on charts to GBp0.8744, after rate was marked up in Asia.
- Support Gbp0.8748/44, Gbp0.8700. Resistance Gbp0.8785 ahead of Gbp0.8800/05.  
- 1.0% 10-dma envelope parameters, base Gbp0.8742, 10-dma Gbp0.8830, top
Gbp0.8919.
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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