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Moves in to Challenge Gbp0.9000 Support

EURO-STERLING
MNI (London)

Cross again met decent resistance into the Gbp0.9070 level, reversing off a recovery high of Gbp0.9068 (seen at the 0800BST fix) to move in again to place pressure on the Gbp0.9000 support. A break below to expose recent lows around Gbp0.8970, ahead of Gbp0.8938 and the base of the 1.0% 10-dma which currently comes through close behind at Gbp0.8934. Rate back below its key technical 10-dma (current Gbp0.9024), a break to again expose the Gbp0.9070 area ahead of the top of the 1.0% envelope at Gbp0.9114.

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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