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Support Found Ahead of YTD......>

EURO-STERLING TECHS
EURO-STERLING TECHS: Support Found Ahead of YTD Lows 
EURGBP briefly dipped under 0.85 in early Asian trading before finding some
support ahead of ytd lows to allow bulls to recover this level. The broader
downtrend remains intact though and 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 0.8602 before
returning the focus to the Apr 23 high and 0.8700 level.

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