British Pound Live Rates

By Neal Armstrong LONDON, Nov 9 (Reuters) - Sterling rallied to its highest in nearly six weeks versus a struggling euro on Tuesday as peripheral debt concerns in the euro zone dogged the single currency, pushing the pair towards key technical support. The euro's losses deepened as worries about a political impasse in Dublin ahead of a key budget vote saw 10-year Irish bond yields IE10YT=TWEB shoot above 8 percent on Monday -- much higher than the cost of borrowing from the European Union's emergency fund. Euro/sterling EURGBP=D4 dropped below 86 pence on Tuesday, slipping to a near six-week low of 85.90. Technical analysts said the close below the 38.2 percent retracement of the August to October rally at 86.36 pence on Monday was a bearish sign, with the 200-day moving average AT 85.72 seen as support. "The euro is under pressure on peripheral debt concerns but I think it will be difficult to break 85.50," said Jeremy Stretch, head of currency strategy at CIBC. "Better...

LONDON, Nov 9 (Reuters) - Following is a selection of comments from analysts on important technical developments in the foreign exchange market. * EURO/DOLLAR: "Spike warns of more downside. With a high of $1.4283 the market has met all but the ideal target (1.44ish) of the bull triangle. The low weekly close, back into the triangle, is a clear warning that the August rise now has run its course and that a more profound correction/longer period of congestion/turnaround is at hand. Bearish divergences are also expected to help the pair lower. Support at $1.3734." * DOLLAR INDEX: "More upside seen near term. Falling short of the triangle target, holding the 2008 support line and creating a bullish, however not yet confirmed, divergence all makes us stand ready for more profit taking/stop loss buying near term. If RSI climbs above its recent reaction peak the bull divergence will be confirmed hence more upside potential to be released". * EURO/YEN: "Sellers responded ahead of the...