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Sharp pull back from Wednesday high...>

EURO-STERLING
MNI (London)
EURO-STERLING: Sharp pull back from Wednesday high of Gbp0.8937 to Gbp0.8883
before rate settled around Gbp0.8910 into the close. Trade in Asia saw cross
slowly extend the recovery to Gbp0.8922 before it eased gain, finding support at
Gbp0.8910 into the European open. Rate again seen challenging the Asian high at
writing. Resistance seen into Gbp0.8926/30. Support Gbp0.8888/83 with the 10-dma
1.0% envelope base coming through today at Gbp0.8867. As normally witnessed,
cross doesn't like to trade outside of this envelope and will often reverse
track. BOE and ECB rate announcements today could influence though Brexit
headlines remain the key driver. 
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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