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Fighting Back EURGBP............>

EURO-STERLING TECHS
EURO-STERLING TECHS: Fighting Back
EURGBP reclaimed the 0.8900 handle, but has so far failed to build on recent
gains. A weekly close below suggests the downtrend remains intact, with bears
targeting the 100-dma/Aug 2 low at 0.8864/54 in a bid to build on recent
downside momentum. Bulls now need to close above 0.8950 to shift the short-term
outlook back to neutral, while a break above 0.9052 is needed to challenge the
0.9100 area which holds the YTD high at 0.9098.

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