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EURO-STERLING TECHS: Based Ahead of 0.85
EURGBP based ahead of the 0.85 level, with the recovery extending toward 0.8550
post UK Svcs PMI data. Choppy range trade continues with bears looking for a
close under 0.8500 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 0.8648, before challenging the
Mar 21 high & 38.2% retracement level at 0.8723/29.