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Testing Key Trendline...........>

EURO-STERLING TECHS
EURO-STERLING TECHS: Testing Key Trendline Resistance
*RES 4: 0.8658 High Nov 7
*RES 3: 0.8605 High Nov 22
*RES 2: 0.8592 High Dec 23 and bull trigger
*RES 1: 0.8544 Intraday high / Trendline resistance drawn off the Aug 12 high
*PRICE: 0.8541 @ 06:05 GMT Jan 13
*SUP 1: 0.8452 Low Dec 31 and near-term bear trigger
*SUP 2: 0.8356 Low Dec 17
*SUP 3: 0.8277 Low Dec 13 and key support
*SUP 4: 0.8213 1.500 projection of Aug 12 - Sep 20 sell-off from Oct 10 high
EURGBP is firmer this morning. The cross has recently been consolidating but
maintains a bullish tone following the recent strong bounce off the Dec 13 low.
Importantly, price is currently testing the key trendline resistance at 0.8544.
The trendline is drawn off the Aug 12 high and if cleared would represent a key
bullish technical development plus signal a trend reversal. This would open
0.8592 initially, the Dec 23 high and 0.8605, Nov 22 high. Support is at 0.8452.
Foreign Exchange Technical AnalysisMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisMarketsForeign Exchange Bullets

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