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Bears Remain in Control.........>

EURO-STERLING TECHS
EURO-STERLING TECHS: Bears Remain in Control
Despite GBPUSD giving up most of its gains on Thursday, EURGBP's move back
higher has been more limited. We remain below the 100-dma and broken down
trendline, although we failed to break below the 200-dma at 0.8835. To cement
downside momentum, we would need to see a close below here before targeting the
0.8700 level, ahead of the Nov 13 low at 0.8656. To move the outlook into more
neutral territory, we need to close back above the down trendline and 100-dma.
The 38.2% retracement of 0.8621-0.9099 at 0.8916 will provide resistance above
here.

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