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EURGBP briefly dipped under.....>

EURO-STERLING TECHS
EURO-STERLING TECHS: EURGBP briefly dipped under the 0.8800 level Wednesday,
before squeezing to 0.8810/15 at the close. Consolidation has largely remained
the theme since with topside focus on the May 28-24 highs at 0.8841/50. Further
resistance is located at 0.8860. the 50% retracement of the move from 0.9415 to
0.8305, with a break here needed to extend the uptrend towards the Jan 16 high.
Bears need a close back under the 200-dma at 0.8787 to stabilise the outlook,
before focusing on a return to 0.8700 & the 100-dma which crosses at 0.8673.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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