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EURO-STERLING TECHS: Bulls Need To Hold 0.89
EURGBP extended losses yesterday but was unable to close below the 0.89 level
which keeps the outlook neutral for now. A close below this level is needed to
accelerate weakness and open up the Sep 20 lows at 0.8848. Below here targets
the 200-dma at 0.8840, ahead of the July 4 low at 0.8799. Bulls need to hold
above 0.89 to target the double-top resistance area at 0.8995/00 for
confirmation of the uptrend. A break above 0.9052 is needed to challenge the
0.9100 level which holds the YTD high at 0.9098.