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Shies away for a retest on the........>

EURO-STERLING
MNI (London)
EURO-STERLING: Shies away for a retest on the Gbp0.9000 level, topping out at
Gbp0.8994 on suggested month-end flow. However, corrective pullback so far holds
shallow, finding support at Gbp0.8964 and looking to end the day with an
underlying buoyant feel. Rate had extended its recovery off Tuesday's low of
Gbp0.8881 through the European morning, breaking back above its key 10-dma
(currently at Gbp0.8934) before meeting resistance into Gbp0.9000. If rate can
hold above the 10-dma its keeps this Gbp0.9000 level in view as well as the top
of the 1.0% 10-dma envelope, currently at Gbp0.9023. Month-end flow could keep
this cross supported though Friday we could see cable demand provide a counter
(according the prelim model outlook for month end flow).
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MarketsForeign Exchange Bullets
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MarketsForeign Exchange Bullets

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