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Corrective pullback likely:.....>

MNI (London)
EURO-STERLING TECHS: Corrective pullback likely:
*RES 4: 0.9070 Trendline drawn off the Oct 7, 2016 high
*RES 3: 0.9062 High Jan 11
*RES 2: 0.9051 High Jul 17
*RES 1: 0.9005 High Jul 23
*PRICE: 0.8956 @ 04:31 GMT Jul 26
*SUP 1: 0.8892 Low Jul 25 and key intraday support
*SUP 2: 0.8873 Low Jun 20
*SUP 3: 0.8830 Low Jun 6
*SUP 4: 0.8796 200-dma
EURGBP has entered a corrective phase following the break of former key support
at 0.8956. The cross briefly traded below 0.8900 yesterday for the first time
since Jun 21, before staging a strong recovery. A return lower and break of
0.8892 would pave the way for weakness towards the early June lows at 0.8830,
ahead of the 200-dma. On the upside, gains back above 0.9000 are required to
signal a resumption of the uptrend trend and open the 0.9051 resistance.
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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