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Under Pressure

EURO-STERLING TECHS

EURGBP failed to hold onto the day high yesterday following a break of trendline resistance and is trading back below the line.

  • Selling pressure this morning has seen the cross weaken further. A deeper decline would open the next support at 0.9044, Oct 2 low.
  • Note, key support lies at 0.9025, Sep 28 low where a break would confirm a resumption of bearish trending conditions.
  • Clearance of yesterday's high of 0.9162 is required to offset any bearish concerns.
  • Initial resistance is at 0.9114, today's intraday high.

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