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EURO-STERLING TECHS: Focus Still On Trendline Resistance
*RES 4: 0.8658 High Nov 7
*RES 3: 0.8605 High Nov 22
*RES 2: 0.8592 High Dec 23 and bull trigger
*RES 1: 0.8541/45 T-line resistance drawn off the Aug 12 high / High Jan 6
*PRICE: 0.8505 @ 16:06 GMT Jan 9
*SUP 1: 0.8452 Low Dec 31
*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
EURGBP traded firmer Thursday however broadly speaking is unchanged and still
consolidating. The cross is bullish though and this follows the recent strong
bounce off the Dec 13 low. Price has also recently traded close to a key
resistance, currently at 0.8541 marking the trendline drawn off the August high.
A break if seen, would represent a key bullish technical development and signal
a trend reversal opening 0.8676 initially, the Oct 24 high. Support is 0.8452.