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Recovery off last week's low of.......>

EURO-STERLING
MNI (London)
EURO-STERLING: Recovery off last week's low of Gbp0.8946 extends to Gbp0.8995 in
early European trade Monday, with the Gbp0.9000 so far holding the rise at bay.
A break above the figure to expose the 10-dma, which currently comes through at
Gbp0.9030. Whilst rate holds below this 10-dma it keeps the underlying bias
negative. A break to open a move toward the top of its 1.0% 10-dma envelope,
which by time currently comes through at Gbp0.9121. Base of the envelope seen at
Gbp0.8940. 
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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