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Downtrend Intact Failure to.....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Downtrend Intact
Failure to build above 0.86 last week has seen EURGBP drift towards the 0.8550
area and keeps the recent downtrend intact. This returns focus to the Feb 27 low
at 0.8529, a break would see bears target the 0.8500 level ahead of the 38.2%
retracement at 0.8468. Bulls need to recover the 0.87 level to improve the
outlook and target prior range lows around 0.8750. Above here would bring the
100 & 200-dma's back into view at 0.8839/58.

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