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FOREX: FX Technical Overview:
- EURUSD bulls need to see a clear break of 1.1093 resistance to raise
expectations for a recovery towards 1.1179. First support is 1.1048.
- Cable is off recent highs. A move below 1.2868 would offset the bullish
implications of the recent recovery and highlight a bearish threat once again.
Key support remains 1.2769. The EURGBP outlook remains bearish and the focus is
on weakness towards 0.8490 next. Resistance resides at 0.8630.
- USDJPY directional triggers are 109.07 and 108.24. The likely S/T direction is
difficult to assess right now. EURJPY has displayed some strong bullish signals
recently. For these to remain intact, support at 119.25 needs to hold. The
intraday bull trigger is 120.69. (1/2)