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Sterling remains under pressure in early......>

CABLE
MNI (London)
CABLE: Sterling remains under pressure in early Europe, good demand noted in
EUR/GBP which could be providing the drive. Cable has extended lows to $1.3012
but expected to meet some demand placed between $1.3010/00, with the Jan21 low
of $1.2996 just behind. A break here to expose next tech support into $1.2980.
EUR/GBP now through Gbp0.8460, as rate extends recovery off its PMI react low of
Gbp0.8388. Rate trades to GBP0.8468 with the 10-dma now edging to Gbp0.8483
close behind. Some suggestion of month-demand in the cross driving, hedging
ahead of Thursday's BOE MPC announcement with the meeting described as live. 
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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