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Bulls Take The Lead Italian.....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Bulls Take The Lead
Italian budget headlines supported the euro to comfortably clear 0.90, a level
that has held on a closing basis in recent sessions. A close above opens a run
at the heavily congested 0.9090/00 zone for the next leg higher. This area also
holds the GBPEUR equivalent of E1.10 which is seen as a key psychological level.
Bears initially need to clear the 50% retracement level at 0.8949 to change the
short-term outlook. A break of the 100-dma at 0.8894 would confirm a reversal
pattern, opening the 200-dma & Nov 28 low at 0.8842/10.

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