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Trying to Break Higher but......>

EURO-STERLING TECHS
EURO-STERLING TECHS: Trying to Break Higher but Hitting 100-dma
After closing just above the 200-dma yesterday, EURGBP has pushed higher this
morning, briefly breaking above the broken down trendline at 0.8869 before
running into resistance just below the 100-dma at 0.8884. To change the outlook
to bullish, we initially need to close above the 100-dma before a meaningful
break above the 38.2% retracement of 0.8621-0.9099 at 0.8916. To resume the
downtrend, EURGBP needs to close below the 200/50-dmas at 0.8835/31. Falling
below here would see bears targeting the 0.8700 level, ahead of the Nov 13 low
at 0.8656.

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