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Quick blip above Gbp0.8840 sees.......>

EURO-STERLING
MNI (London)
EURO-STERLING: Quick blip above Gbp0.8840 sees rate extend highs to Gbp0.8843,
with cable getting shoved to an extended low of $1.3114(just under it mentioned
hourly support at $1.3115). Sterling partially recovers but underlying bearish
tone remains. Support now seen at Tuesday's $1.3109 low, with further demand
suggested into $1.3100. Break here to expose a deeper move toward $1.3070/60.
For the cross, hourly resistance remains at Gbp0.8845/50 with a technical swing
target noted just above at Gbp0.8854. 
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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