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Based Ahead of YTD Lows.........>

EURO-STERLING TECHS
EURO-STERLING TECHS: Based Ahead of YTD Lows
EURGBP based ahead of ytd lows yesterday with the cross extending back above
0.8500. Despite this recovery efforts have so far remained shallow and keeps the
downside in check. Bears still look for a close sub-0.8500 to bring the Mar 13
ytd low back into view at 0.8472 and give more weight to the large topping
pattern. Bulls need to clear 0.8600 to stabilise the outlook, opening the Mar 21
high at 0.8723, ahead of the 100 & 200-dma's.

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