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Sterling comes under another round of sell....>

CABLE
MNI (London)
CABLE: Sterling comes under another round of sell pressure, breaks below
temporary support at $1.3250, the momentum taking it through the earlier low of
$1.3236 to an extended low of $1.3162, finding support just above its 76.4%
retrace level, of the election recovery rally from $1.3051 to $1.3514 at
$1.3160. Conditions said to be thin making for an order driven volatile market. 
- EUR/GBP breaks above its 10-dma at Gbp0.8424, exposes the topside of its 1.0%
10-dma envelope at Gbp0.8508 with aforementioned interim resistance at
Gbp0.8460/70. 
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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