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EURO-STERLING TECHS: Bull Flag Breakout
EURGBP has broken through resistance at 0.8925 to confirm a bull flag
continuation pattern that points to a re-test of the recent highs at 0.8958 and
major resistance at 0.8968. A further break above here will open upside
potential towards the upper end of the major ascending channel, where the
trendline resistance intervenes at the 0.8990 level. On the downside, bears need
to break back below the bottom of the near-term ascending channel, which comes
in at 0.8880, to shift the short-term outlook back to neutral, and a close below
0.8855 to turn the outlook bearish.