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EURO-STERLING TECHS: Sitting Tight as USD Rallies
The broad USD move was ignored for the EURGBP cross as it remained in its recent
sideways range. A move above 0.8681 would strengthen the uptrend, bringing the
0.8700 level and the March 23 high back into view at 0.8723. The 100-dma & 50%
retracement of 2019 range are placed behind at 0.8755/91. To regain the upper
hand bears look for a close below the 55-dma at 0.8631 before targeting a break
of the 0.8600 handle. Below here would extend the downtrend toward the Apr 5 low
& 61.8% retracement level at 0.8557/54.
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