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Extending The Downtrend.........>

EURO-STERLING TECHS
EURO-STERLING TECHS: Extending The Downtrend
Yesterday's close below the Jan 25 low suggested a major topping pattern is now
in play. EURGBP extended the downtrend through 0.8530 with near-term support
seen on approach to the Gbp0.85 level. Below here opens the 38.2% retracement at
0.8468, ahead of the April 21 2017 low at 0.8314. 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 0.8845/61.

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