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EURO-STERLING TECHS: 55-DMA Gives Way
The 55-dma provided firm support over the past week or so, but the mark gave way
Tuesday, switching the near-term outlook bearish. A close below the 55-dma at
0.8619 would reignite downside momentum toward the Apr 5 low & 61.8% retracement
level at 0.8557/54. To the upside, bulls look to push above the April 23 high at
0.8682 and return the focus to the 0.8700 level. Above here would bring the
March 23 high & 100-dma back into view at 0.8723/39.