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EURO-STERLING TECHS: Base Formed Ahead Of 0.85
EURGBP based ahead of the 0.85 level yesterday, but the recovery has lacked
momentum keeping the focus on the downside. A close under 0.8500 is needed to
extend the broader downtrend. Below here would likely accelerate the move toward
the Mar 27/Mar 13 lows at 0.8483/72. To mount an upside reversal bulls need to
clear the 50-dma at 0.8645, before challenging the Mar 21 high & 38.2%
retracement level at 0.8723/29.