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Picks up Strong Demand Through the 1600BST Fix

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MNI (London)

A pre fix drop to $1.3080, the move holding shy of its earlier low of $1.3065, reversed sharply into the 1600BST fix, taking the rate through its earlier recovery highs around $1.3150 and on to $1.3196. Move seen as EUR/GBP breaks below its support of Gbp0.9000. Expect some resistance into $1.3200, stronger into $1.3220($1.3219 76.4% $1.3267-1.3065). Break here to bring Wednesday's high of $1.3267 back into play.

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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