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Focus Is On Key Trendline.......>

EURO-STERLING TECHS
EURO-STERLING TECHS: Focus Is On Key Trendline Resistance
*RES 4: 0.8658 High Nov 7
*RES 3: 0.8622 Trendline resistance drawn off the Aug 12 high
*RES 2: 0.8605 High Nov 22
*RES 1: 0.8592 High Dec 23
*PRICE: 0.8534 @ 16:31 GMT Dec 27
*SUP 1: 0.8477 Low Dec 19 and 20
*SUP 2: 0.8356 Low Dec 17
*SUP 3: 0.8277 Low Dec 13 and key support
*SUP 4: 0.8213 1.500 projection of Aug 12 - Sep 20 sell-off from Oct 10 high
Despite this week's pullback, EURGBP remains bullish following last week's
gains. The break of former resistance at 0.8509, Dec 12 high essentially
confirmed a short-term base clearing the way for further gains. Note the cross
is also approaching a key resistance at 0.8622. This is the trendline drawn off
the August high. A break would represent a key bullish technical development and
also signal a more significant trend reversal. Support is seen at 0.8477.

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