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55-DMA Refuses To Give Way......>

EURO-STERLING TECHS
EURO-STERLING TECHS: 55-DMA Refuses To Give Way
EURGBP continues to respect resistance at the 55-dma which comes in at 0.8640.
Bulls need a close above here to open a move toward the 76.4% retracement level
& Mar 22 high at 0.8666/84, while a topside break of 0.8700 brings the March 23
high back into view at 0.8723. Bears look for a move back under 0.8600 to extend
the downtrend toward the Apr 5 low & 61.8% retracement level at 0.8557/54.

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