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Sterling under pressure again as......>

MNI (London)
EURO-STERLING: Sterling under pressure again as cable extends pullback lows to
$1.2046(off Monday recovery high of $1.2106), in turn sees EUR/GBP edge back
toward Monday's recovery high of Gbp0.9299 (off Gbp0.9248 after rate had had
eased away from its freshly posted YTD high of Gbp0.9324). Expect stiff
resistance into Gbp0.9300, with Gbp0.9306 close behind being the 76.4% retrace
of Monday's pullback, as well as the current topside of its 1.0% 10-dma
envelope. Break here to expose Gbp0.9324 again. Above here and the topside of
the 2.0% envelope at Gbp0.9398 moves into sight. Support Gbp0.9270,
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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