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EURO-STERLING TECHS: Bearish Trend Continues
EURGBP briefly traded under the 0.87 level to trade at its lowest levels since
April and keep the recent downtrend intact. Bears focus now turns to the ytd low
at 0.8621, a break here is expected to accelerate the move toward option-related
support at 0.8600. Bulls need to recover the 50% fibo of the recent downtrend &
200-dma at 0.8818/37, before turning attention toward the 100-dma at 0.8884.