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Downtrend Extends EURGBP has....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Downtrend Extends
EURGBP has extended its decline since breaking below the 55-dma on Tuesday, with
the hawkish Feb comments weighing more heavily on the euro. The next area of
support comes in at 0.8557/54 from the Apr 5 low & 61.8% retracement level.
Below here opens the Apr 4 low at 0.8519, ahead of a run at the psychological
0.85 handle. To the upside, bulls need to recover the 55-dma at 0.8611, before
returning the focus to the Apr 23 high at 0.8682 and the 0.8700 level.

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