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Upside Momentum Fizzling Out....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Upside Momentum Fizzling Out
Some renewed upside momentum over the holiday weekend saw EURGBP move higher and
begin to approach Wednesday's high of 0.8681. This momentum has fizzled out this
morning but focus remains on the upside. A move above 0.8681 would strengthen
the uptrend, bringing the 0.8700 level and the March 23 high back into view at
0.8723. The 100-dma & 50% retracement of 2019 range are placed behind at
0.8755/91. To regain the upper hand bears look for a close below the 55-dma at
0.8631 before targeting a break of the 0.8600 handle. Below here would extend
the downtrend toward the Apr 5 low & 61.8% retracement level at 0.8557/54.

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