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EURO-STERLING
MNI (London)
EURO-STERLING: Positive Brexit noises from Brussels seen keeping the pound
buoyed, allowed EUR/GBP to extend recent easing to make a show sub Gbp0.8900,
trading to Gbp0.8895. Move saw cross venture outside of its much reported 10-dma
1.0% envelope base, currently Gbp0.8898 but has quickly edged itself back
within, currently trading around Gbp0.8910. As mentioned in recent sessions,
EUR/GBP does not like to hold outside of its 10-dma 1.0% envelope for too long
and will often rebound away, topside and bottom side. As the rate has moved
lower thus the 10-dma will have eased (current Gbp0.8988) taking the envelope
lower with it. 
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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