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Recovery Losing Steam EURGBP....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Recovery Losing Steam
EURGBP reached as high as 0.8587 yesterday but momentum looks to have stalled
keeping the broader bearish trend intact. A close below 0.85 would open the YTD
lows printed in mid-March at 0.8473. Any fall through here would see key Fib
support tested at the 0.8469 level, marking the 38.2% retracement of the 0.6938
- 0.9415 range. To the upside, bulls need to recover the 55-dma at 0.8601 before
returning the focus to the Apr 23 high and 0.8700 level.

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