Tuesday's sterling boost, provided....>

EURO-STERLING: Tuesday's sterling boost, provided by a released Sky YouGov poll

which showed the Conservative lead over Labour at 14 points, saw the cross

retest Monday's low of Gbp0.8558 where it again met support. Rate recovered to

Gbp0.8571 ahead of the close. Recovery extended slightly on to Gbp0.8574 in Asia

but was seen coming under another round of downside pressure into Europe as rate

was pressed back to Gbp0.8563. Rate remains below its key 10-dma line, currently

coming through at Gbp0.8606 and above the base of its 1.0% envelope at

Gbp0.8520. While rate holds below its 10-dma line it will keep outlook turned

toward the downside, a break of Gbp0.8558 to expose that envelope base. A move

back above 10-dma weakens this view.