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Probed through its Gbp0.8500..........>

EURO-STERLING
MNI (London)
EURO-STERLING: Probed through its Gbp0.8500 resistance in early Europe trade
Monday, touched Gbp0.8504 before reversing. Sterling rally allowed the cross to
break back through it s 10-dma at GBp0.8463 to Gbp0.8443 in early NY before it
settled around Gbp0.8450 into the close. Consolidation through Asia saw rate
contained by Gbp0.8446/52, early Europe again taking the rate higher, touched
Gbp0.8457 before momentum faded and it eased to Gbp0.8450. Rate currently holds
below its key technical 10-dma, which by time has eased to Gbp0.8462. While
below its turns outlook bearish, though needs more convincing momentum. Support
seen at Gbp0.8443/34, Gbp0.8400 ahead of Gbp0.8387. Base of the 1.0% 10-dma
currently comes through Gbp0.8377. Above GBp0.8462, Gbp0.8474/86 ahead of
Gbp0.8498/0.8504, Gbp0.8538, Gbp0.8547(topside 1.0% 10-dma envelope).
- UK Q4 GDP, IP/Mfg, Trade and Construction data at 0930GMT. 
- BOE Carney and Haskel speak later.   
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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