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55-DMA Continues To Act As......>

EURO-STERLING TECHS
EURO-STERLING TECHS: 55-DMA Continues To Act As Support
EURGBP dipped as low as 0.8636 yesterday before finding some support ahead of
the 55-dma to allow bulls to post a marginal new recovery high of 0.8682. A move
above 0.8700 is now needed to strengthen the uptrend, bringing the March 23 high
back into view at 0.8723. The 100-dma & 50% retracement of 2019 range are placed
behind at 0.8753/91. To regain the upper hand bears look for a close below the
55-dma at 0.8629 before targeting a break of the 0.8600 handle. Below here would
extend the downtrend toward the Apr 5 low & 61.8% retracement level at
0.8557/54.

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