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Recovery off the cross' Oct10 low.....>

EURO-STERLING
MNI (London)
EURO-STERLING: Recovery off the cross' Oct10 low of Gbp0.8723 extended to
Gbp0.8896 in NY Friday, with Bloomberg data showing rate touching Gbp0.8898 in
opening Asian trade. Move has seen rate rejected away from the base of its 1.0%
10-dma envelope toward the topside, which today comes through at Gbp0.8921. Rate
did drift lower through Asia, touched a low of Gbp0p.8874 ahead of Europe only
to meet fresh demand into the European session which has edged back to
Gbp0.8888. Month-end approaching and demand flows maybe emerging, value date
Oct31. Resistance Gbp0.8900 ahead of Gbp0.8921. 
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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