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Closed Below the 50% Fibo.......>

EURO-STERLING TECHS
EURO-STERLING TECHS: Closed Below the 50% Fibo
EURGBP closed below 0.8860 yesterday, the 50% retracement from 0.8621-0.9099 for
the first time since the initial move higher on the back of the initial Brexit
deal announcement. We have also closed back below the down trendline from the
August highs. To maintain the move lower, we need to break below the 200/50dmas
at 0.8835/31. A close below here would target 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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