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Tuesday's rejection away from the.....>

EURO-STERLING
MNI (London)
EURO-STERLING: Tuesday's rejection away from the top of the 1.0% 10-dma envelope
saw rate break back below the 10-dma to challenge the base of the envelope
Thursday. Rate had seen a high Tuesday of Gbp0.9148 before trading back to
Gbp0.8946 Thursday, with trade in Asia keeping up the downside pressure as rate
slightly extended lows to Gbp0.8945. However, some paring back of long
speculative sterling positions seen ahead of today's US employment report and
the weekend (Sunday press will be watched for PM Johnson's next move) has
allowed the cross to edge up to Gbp0.8976, as cable eases back to $1.2300. 
- Base of the 1.0% 10-dma envelope ahs moved down to Gbp0.8950 by time. 10-dma
currently comes through at Gbp0.9040.  
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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