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Topside Capped Ahead of.........>

EURO-STERLING TECHS
EURO-STERLING TECHS: Topside Capped Ahead of 200-DMA
EURGBP squeezed to 0.8836, but failed to take out the 200-dma. The level also
coincides with neckline support and is seen a key area of resistance. Downside
momentum has since returned with focus on the 0.8750 level. Below here the
broader bearish trend continues with the Oct 10 low of 0.8723 the next downside
target ahead of a potential run at the May 30 lows at 0.8699. Bulls need to
recover the 200-dma and build on momentum to shift the outlook more positive.

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