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Correction likely to extend:....>

EURO-STERLING TECHS: Correction likely to extend:
*RES 4: 0.9400 Psychological level
*RES 3: 0.9276 High Aug 14
*RES 2: 0.9325 High Aug 12 and bull trigger
*RES 1: 0.9207 Low Aug 8
*PRICE: 0.9139 @ 04:02 GMT Aug 20
*SUP 1: 0.9090/89 Low Aug16 / Low Jul 31
*SUP 2: 0.9051 High Jul 17 and former bull trigger
*SUP 3: 0.9035 Lower 2.0% 10-dma envelope
*SUP 4: 0.9016 Trendline support drawn off the May 6 low
EURGBP remains in a corrective mode following last weeks sharp sell-off. The
cross has managed to find some support at 0.9089, last Friday's low. However the
risk remains for a deeper pullback, that could see prices trade down to the July
17 high and former bull trigger at 0.9051. Note, trendline support drawn off the
May 6 low intersects at 0.9016. To regain upside momentum, bulls need to reclaim
0.9207. The trigger for a resumption of the trend is 0.9325.

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