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Retracement Off The High........>

EURO-STERLING TECHS
EURO-STERLING TECHS: Retracement Off The High
Renewed sterling buoyancy on the well received labour market report has seen
EURGBP extend its corrective pullback toward the 0.90 level. Bears need a close
under here to stabilise the outlook and target the 100-dma at 0.8888 to suggest
a reversal pattern is in play. Bulls need to break the heavily congested
0.9090/00 zone for the next leg higher, this area also holds the GBPEUR
equivalent of E1.10 which some see as a key psychological level.

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