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Retreat From Wednesday High Holds on the 10-dma.

EURO-STERLING
MNI (London)

Cleared above its 10-dma Wednesday and rallied to a high of Gbp0.9162 before momentum faded and sterling pared losses into the 1600BST fix, touching a pullback low of Gbp0.9100, with late recovery efforts capped at Gbp0.9120. Rate closed at Gbp0.9106, above its 10-dma(current level Gbp0.9096). Sterling's recovery continued in Asia, though at a laboured pace, but rate has been able to ease below Gbp0.9100 but so far remains buoyed above the 10-dma. Whilst rate holds above it keeps upside in focus. A break and clear below to negate this current positive outlook. Initial support seen into Gbp0.9060.

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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