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Downtrend Forming Failure to....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Downtrend Forming
Failure to reclaim 0.8950 has seen EURGBP maintain its bearish outlook and start
to form a descending pattern. Bears look to build on recent momentum with focus
turning toward the 100-dma and Aug 2 low at 0.8858/54. Bulls now need to close
above 0.8950 to shift the short-term outlook back to neutral, while a break
above 0.9052 is needed to challenge the key 0.9100 area which holds the YTD high
at 0.9098.

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