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EURO-STERLING TECHS: Heavy Feel
Recovery efforts have so far been capped ahead of 0.87, to keep pressure on the
downside. Bears initially target the Jan 25 ytd low at 0.8618, before
challenging the 0.86 level. A break below here would suggest a major topping
pattern has been triggered. Bulls need to recover 0.87 to improve the outlook
and target prior range lows around 0.8750. Above here would bring the 0.88 level
back into view, ahead of the 100 & 200-dma's at 0.8848/63.