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Rally Extends EURGBP extended...>

EURO-STERLING TECHS
EURO-STERLING TECHS: Rally Extends
EURGBP extended its strong rally to as high as 0.8889 yesterday as euro strength
dominated allowing the pair to test the Jan 16 high. A close above here would
put the focus squarely on the 0.89 level. Above here would bring the 76.4%
retracement of the Jan-March decline back into play at 0.8958. On the downside
bears need a move back under the channel base & broken pivotal
resistance-turned-support at 0.8840. Below here opens a return to the 0.8800
level, ahead of the 200-dma at 0.8785.

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