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Bearish Focus Remains Intact....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Bearish Focus Remains Intact
*RES 4: 0.8605 High Nov 22
*RES 3: 0.8596 High Jan 14 and bull trigger
*RES 2: 0.8554 High Jan 20
*RES 1: 0.8488 High Jan 30
*PRICE: 0.8400 @ 16:55 GMT Jan 31
*SUP 1: 0.8387 Intraday low
*SUP 2: 0.8356 Low Dec 17
*SUP 3: 0.8352 76.4% retracement of the Dec 13 - Jan 14 rally
*SUP 4: 0.8277 Low Dec 13 and key support
EURGBP traded lower again this morning and maintains a bearish outlook. Key
support at 0.8452, Dec 31 low was breached last week confirming a range
breakout. The cross probed 61.8% of the Dec - Jan rally at 0.8399 on Jan 24.
Together, these highlight a bearish theme. Note that 0.8389 has been probed
today, a clear break would reinforce current bearish conditions. Attention is on
0.8356, Dec 17 low and 0.8277, Dec 13 low. Resistance is at 0.8488.
Foreign Exchange Technical AnalysisMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisMarketsForeign Exchange Bullets

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