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Probes Major Range Base *RES....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Probes Major Range Base
*RES 4: 0.8509 High Dec 12
*RES 3: 0.8457 Intraday high
*RES 2: 0.8393 Low Dec 9
*RES 1: 0.8367 50.0% retracement of today's range thus far
*PRICE: 0.8339 @ 10:26 GMT Dec 13
*SUP 1: 0.8277 Intraday low
*SUP 2: 0.8213 1.500 projection of Aug 12 - Sep 20 sell-off from Oct 10 high
*SUP 3: 0.8149 1.618 projection of Aug 12 - Sep 20 sell-off from Oct 10 high
*SUP 4: 0.8071 1.764 projection of Aug 12 - Sep 20 sell-off from Oct 10 high
EURGBP is down sharply. Today's move has once again clearly confirmed a
resumption of the downtrend that has been in place since Aug 12. The cross has
traded below a major support at 0.8305, low May 12, 2016. This level also
represents the base of the broad range the cross has been trading within since
peaking in July 2016. A clear break of the range base would represent a
significant bearish reversal. Initial resistance is seen at 0.8367.

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