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EURO-STERLING TECHS: Tentative Break Higher?
EURGBP has finally broken out of its sideways trend but needs to close above
0.8825 to start any uptrend. Bulls need a close above 0.88 to bring the Feb 5
high & 100-wma at 0.8822/31 into view. A break opens the 100 & 200-dmas at
0.8858/65, ahead of the Jan 16 high & 50-dma at 0.8889. 0.8725 is providing some
support with the 0.87 level providing the next target for bears. This comes
ahead of a return to the Jan 25 ytd low at 0.8617.