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Sterling strength allowed the cross...>

EURO-STERLING
MNI (London)
EURO-STERLING: Sterling strength allowed the cross to extend its corrective
pullback to Gbp0.8747 in early Europe, following an Asia range Gbp0.8757-70.
Move seen as cable extends to fresh recovery highs of $1.3258, though cross
holds off recent lows of Gbp0.8723. Having made a show outside of its 1.0%
10-dma envelope in recent sessions the rate has edged back inside, the base
today coming through at Gbp0.8715. Support seen ahead of this level into
Gbp0.8720, a break expected to pressure any weak longs. Resistance seen at
Gbp0.8770/75. 
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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