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Strong EUR demand into early Europe...>

EURO-STERLING
MNI (London)
EURO-STERLING: Strong EUR demand into early Europe Friday sees the cross edge
back toward Thursday's high of Gbp0.8930, with Wednesday's high of Gbp0.8937
close behind. Rate made a brief show outside of its 10-dma 1.0% envelope base on
Sep10 but recovered back within during the rest of the week, even though it
touched an extended low of Gbp0.8876 on Sep11. As has been mentioned in recent
bullets this cross tends not to like to be outside of the envelope for too long
and will often see a sharp reversal, top and bottom. That envelope base today
comes in at Gbp0.8864. Brexit remains a key driver of sterling strength with
traders on headline watch. BOE Carney speaks in Dublin this morning. 
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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