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Treading Water EURGBP...........>

EURO-STERLING TECHS
EURO-STERLING TECHS: Treading Water
EURGBP struggles to gain traction with rallies above 0.8925/30 sold. Failure to
convincingly break below the 0.89 level suggests bulls still eye a return to the
0.90 mark, despite the recent rally running low on steam. 0.8880 remains the
near-term support area and a break below here would change the picture. A close
below 0.8855 would cement any bearish outlook before any challenge on the
200-dma at 0.8824. Bulls need to reclaim the 0.9000 level to regain control and
test the 0.9031/33 area. Above here targets the 2% volatility band at 0.9117.

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