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Focus Is On A Range Breakout....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Focus Is On A Range Breakout Next
*RES 4: 0.8676 High Oct 24
*RES 3: 0.8658 High Nov 7
*RES 2: 0.8605 High Nov 22
*RES 1: 0.8596 High Jan 14
*PRICE: 0.8524 @ 10:26 GMT Jan 17
*SUP 1: 0.8488 Intraday low
*SUP 2: 0.8452 Low Dec 31 and near-term bear trigger
*SUP 3: 0.8356 Low Dec 17
*SUP 4: 0.8277 Low Dec 13 and key support
EURGBP has found some support this morning. The cross is trading within a
recently defined 0.8596 - 0.8452 range. This week's trendline break drawn off
the Aug 12 high remains the key technical development and provides a bullish
backdrop. Bulls need a move beyond 0.8596, Jan 14 high to trigger the next leg
higher that would open 0.8605, Nov 22 high and beyond. A clear S/T risk
parameter has been defined at 0.8452, Dec 31 low. A break would concern bulls.

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