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EURO-STERLING TECHS: Another Down Leg Likely
EURGBP's drop below 0.89 is a bearish signal that suggests the downtrend is
continuing and opening up support at 0.8887, ahead of the 100-dma/Aug 2 low at
0.8862/54. Bulls now need to close above 0.8950 to shift the short-term outlook
back to neutral, while a break above 0.9052 is needed to challenge the 0.9100
area which holds the YTD high at 0.9098.