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EURO-STERLING
MNI (London)
EURO-STERLING: Positive comments concerning a Brexit deal provide further
buoyancy for sterling, takes cross below 0.8700 to Gbp0.8690 with rate again
seen approaching the base of the 2.0% 10-dma envelope, which by time comes in at
Gbp0.8684. Rate did manage to trade outside of this mentioned parameter Friday,
but closed back within. Rate usually respects the 1.0% envelope and rarely moves
outside of the 2.0%, though if it does usually quickly corrects, helped by the
10-dma moving with the flow momentum. Next tech support seen at Gbp0.8674, the
level is the 76.4% retracement of the 2019 range Gbp0.8473-0.9324. Break here to
open a deeper move toward Gbp0.8655/50. 
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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