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Path Of Least Resistance........>

EURO-STERLING TECHS
EURO-STERLING TECHS: Path Of Least Resistance Still Down
*RES 4: 0.8531 High Dec 4
*RES 3: 0.8509 High Dec 12 and key resistance
*RES 2: 0.8457 High Dec 13
*RES 1: 0.8414 Intraday high
*PRICE: 0.8392 @ 05:51 GMT Dec 17
*SUP 1: 0.8356 Intraday low
*SUP 2: 0.8277 Low Dec 13
*SUP 3: 0.8213 1.500 projection of Aug 12 - Sep 20 sell-off from Oct 10 high
*SUP 4: 0.8149 1.618 projection of Aug 12 - Sep 20 sell-off from Oct 10 high
EURGBP traded higher Monday and overnight in Asia. However, the cross remains
bearish following Friday's sharp sell-off that again confirmed a resumption of
the downtrend. Price last week breached a major support at 0.8305, May 12, 2016
low. This level also represents the base of the broad range the cross has been
trading within since peaking in July 2016. A clear break would represent a
significant bearish reversal. Initial resistance is seen at 0.8457.

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