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Focus Remains On Key............>

EURO-STERLING TECHS
EURO-STERLING TECHS: Focus Remains On Key Trendline Resistance
*RES 4: 0.8658 High Nov 7
*RES 3: 0.8608 Trendline resistance drawn off the Aug 12 high
*RES 2: 0.8605 High Nov 22
*RES 1: 0.8592 High Dec 23
*PRICE: 0.8518 @ 10:17 GMT Dec 31
*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 the recent pullback, EURGBP remains bullish. This follows the strong
bounce off the Dec 13 low. The cross is trading close to a key resistance at
0.8608, the trendline drawn off the August high. A break would represent a key
bullish technical development and also signal a more significant trend reversal.
This would open 0.8676 initially, the Oct 24 high. Support is seen at 0.8477.

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