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Heavy Following This Week's.....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Heavy Following This Week's Reversal
*RES 4: 0.9240 High Mar 26
*RES 3: 0.9184 61.8% Fibonacci retracement of the Mar - Apr decline
*RES 2: 0.9176 High Jun 29
*RES 1: 0.9080 High Jul 1
*PRICE: 0.9018 @ 10:37 BST Jul 2
*SUP 1: 0.9001 Low Jun 25 and key near-term support
*SUP 2: 0.8950 Low Jun 18
*SUP 3: 0.8936/12 50-day EMA / Low Jun 16
*SUP 4: 0.8883 Low Jun 10
EURGBP stalled Monday at 0.9176. This week's pullback is significant given that
it has occurred just ahead of 0.9184, 61.8% of the Mar - Apr decline.
Furthermore, Tuesday's price pattern is a bearish engulfing candle and also
warns of a top. The key directional parameters are located at 0.9001 as support,
Jun 25 low and resistance at 0.9176, Jun 29 high. A breach of support would
reinforce a bearish threat. 0.9176 is the trigger for a resumption of gains.

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