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Either Side of 0.90 Rate........>

EURO-STERLING TECHS
EURO-STERLING TECHS: Either Side of 0.90
Rate continues to trade either side of the 0.90 level, which continues to keep
the outlook neutral. Bears initially need to clear the 50% retracement level at
0.8949 to change the short-term outlook. A break of the 100-dma at 0.8898 would
confirm a reversal pattern, opening the 200-dma & Nov 28 low at 0.8845/10. Bulls
look for a break above the heavily congested 0.9090/00 zone in focus. This area
also holds the GBPEUR equivalent of E1.10 which is seen as a key psychological
level.

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