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Early Weakness Recovered........>

EURO-STERLING TECHS
EURO-STERLING TECHS: Early Weakness Recovered
EURGBP dipped as low as 0.8778 at the open before recovering the 200-dma at
0.8790 and the 0.8800 level to keep the broader rally intact. Bulls look to
Friday's high at 0.8850 to extend the uptrend towards 0.8860 which represents
the 50% retracement of 0.9415-0.8305. Above here opens the Jan 16 high at
0.8889, ahead of a run at the 0.89 level. Bears need a close back under the
200-dma at 0.8790 to stabilise the outlook, before focusing on a return to
0.8700 & the 100-dma which crosses at 0.8679.

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