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Tight range provides few........>

EURO-STERLING TECHS
EURO-STERLING TECHS: Tight range provides few fresh clues
EURGBP was confined to a particularly narrow range Tuesday and trades almost
exactly in line with the Monday close. The cross failed to challenge either the
Monday high or low throughout the session, providing few fresh technical clues.
The downside target remains 0.8550 initially, ahead of the ytd low & long-term
38.2% retracement level at 0.8472/68. To regain upside momentum bulls need to
recover the 21-dma which would open the March 11 high at 0.8675. A close above
here would suggest a potential bullish reversal.

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