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Recovers Off Recent Lows *RES...>

EURO-STERLING TECHS
EURO-STERLING TECHS: Recovers Off Recent Lows
*RES 4: 0.9187 61.8% Fibonacci retracement of the Mar - Apr decline
*RES 3: 0.9086 50.0% Fibonacci retracement of the Mar - Apr decline
*RES 2: 0.9057 Double bottom projection
*RES 1: 0.9024/55 High Jun 1 / High May 29 and bull trigger
*PRICE: 0.8966 @ 10:35 BST Jun 5
*SUP 1: 0.8867 Low Jun 2
*SUP 2: 0.8858 1.0% Lower 10-dma envelope
*SUP 3: 0.8846 50-day EMA
*SUP 4: 0.8826 Low May 14 and key near-term support
EURGBP found resistance at 0.9055 last week, May 29 high and this led to a
strong sell-off. Support at 0.8881 was probed Tuesday however the cross has
since recovered off the recent low and traded higher yesterday. The next support
to watch lies at 0.8846, the 50-day EMA. For now, a bullish focus remains in
place with attention on 0.9086 next, a Fibonacci retracement. A break of
0.8867/43 would instead likely trigger a stronger bearish signal.

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