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Pressure on sterling has seen.........>

EURO-STERLING
MNI (London)
EURO-STERLING: Pressure on sterling has seen EUR/GBP again move outside of its
1.0% 10-dma envelope, the top of which currently comes through at Gbp0.9050.
Rate touched a high of Gbp0.9073, dipped back to Gbp0.9040 but currently looks
to be settling around the top of the mentioned envelope. Whilst rate remains
above the 10-dma (current Gbp0.8960) it keeps the underlying tone bullish,
exposing the topside of the 2.0% 10-dma envelope at Gbp0.9139. Failure to build
on current move will open a move back toward the 10-dma. Sterling continues to
take direction from risk/equity market action. 
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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