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Recovery Efforts Hit A Wall.....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Recovery Efforts Hit A Wall
EURGBP spikes as high as 0.8774 at one point yesterday but gains were given back
seeing the pair close around 0.8730, returning the focus to the Nov 8 low at
0.8690. Below here brings the ytd low of 0.8621 into view, opening reported
option-related support at 0.86. Bulls need to recover the 50% Fibo of the recent
downtrend & 200-dma at 0.8815/35, before turning attention toward the 100-dma at
0.8882.

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