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Recovery off Friday's Gbp0.8938 low...>

EURO-STERLING
MNI (London)
EURO-STERLING: Recovery off Friday's Gbp0.8938 low extended to Gbp0.9033 during
Monday, with rate settling around Gbp0.9020 as market enters thinning trade
conditions into the late European afternoon with US and Canadian markets closed
for Labour day. Resistance earlier was reported between Gbp0.9030-37(Aug9
high/61.8% Gbp0.9099-0.8938) which has held on the initial challenge but Brexit
concerns keeps the pressure on sterling. A break of the mentioned area to expose
next resistance at Gbp0.9061(76.4% Gbp0.9099-0.8938) with the top of the 10-dma
1.0% envelope today coming through at Gbp0.9097, just ahead of the Aug28 high of
Gbp0.9099. 
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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