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Bullish Exhaustion Bullish......>

EURO-STERLING TECHS
EURO-STERLING TECHS: Bullish Exhaustion
Bullish exhaustion around the 0.89 level yesterday saw EURGBP extend the
corrective pullback toward 0.8850. Consolidation has largely remained the theme
through Europe with immediate downside focus on broken pivotal
resistance-turned-support at 0.8825. Below here opens a return to the 0.8800
level, ahead of the 200-dma at 0.8784. Bulls need to recover the 0.89 handle to
bring the Dec 31 low back into view at 0.8927, a break opens the 76.4% fibo of
the Jan-Mar fall at 0.8958.

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