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Key technical 10-dma held Friday......>

EURO-STERLING
MNI (London)
EURO-STERLING: Key technical 10-dma held Friday (Gbp0.8462) before rate rallied
back to retest strength of resistance in the area between Gbp0.8495/0.8500. Rate
touched Gbp0.8498, closing the week around Gbp0.8493. Trade through Asia was
contained within a range of Gbp0.8486/96 before sterling came under general
pressure into Europe, the cross touching Gbp0.8500. A break here to expose the
Feb4 high of Gbp0.8538 with the topside of its 1.0% 10-dma coming through at
Gbp0.8552. 
- the 10-dma has edged up to Gbp0.8468. While rate holds above this level seen
keeping the underlying tone positive. 
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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