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0.89 Level Key Italian budget...>

EURO-STERLING TECHS
EURO-STERLING TECHS: 0.89 Level Key
Italian budget concerns pressed EURGBP to weekly lows of 0.8872, before fading.
The 0.89 level will be key at the close Friday, above here would see bulls
target the double-top resistance area at 0.8995/00 for confirmation of the
uptrend. A break above 0.9052 is needed to challenge the 0.9100 level which
holds the YTD high at 0.9098. Below, accelerates the recent downtrend, opening
the Sep 20 low & 200-dma at 0.8848/40, ahead of the July 4 low at 0.8799.

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