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Remains Below Key Gbp0.9023 10-dma

EURO-STERLING
MNI (London)

Cross trades back above Gbp0.9000, finding support through Asia at this level, with topside capped by Friday's high of Gbp0.9016. Rate continues to hold below its 10-dma (current Gbp0.9023) but not that far below, a break above to negate the current negative outlook. Below Gbp0.9000 to open a deeper move toward Gbp0.8970 ahead of Gbp0.8944(Friday low) and the base of the 1.0% 10-dma envelope at Gbp0.8933. A break above Gbp0.9023 to open a move toward Gbp0.9039(76.4% 0.9068-0.8944) ahead of stronger area into Gbp0.9070.

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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