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Resumes The Downtrend *RES 4:...>

EURO-STERLING TECHS: Resumes The Downtrend
*RES 4: 0.8717 High Oct 16
*RES 3: 0.8676 High Oct 24 and a key upside trigger
*RES 2: 0.8630 High Nov 8
*RES 1: 0.8605 High Nov 22 and key near-term resistance
*PRICE: 0.8510 @ 05:41 GMT Nov 28
*SUP 1: 0.8500 Intraday low
*SUP 2: 0.8491 Low May 6 and major support
*SUP 3: 0.8482 1.00 projection of Aug 12 - Sep 20 decline from Oct 10 high
*SUP 4: 0.8473 - Low Mar 13 primary support
EURGBP traded lower yesterday breaching support at 0.8522, Nov 18 low and
confirming a resumption of the broader downtrend. The move lower paves the way
for a test of 0.8491, May 6 low where a break would also open 0.8473, Mar 13
low. Note, a 0.8473 print would represent a 100% retracement of the entire May 6
- Aug 12 rally. Key resistance has been defined at 0.8605, Nov 22 high.

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