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EURO-STERLING TECHS: Uptrend Under Pressure
EURGBP remains sandwiched between the 55-dma at 0.8629 and the Mar22 high at
0.8684 and has moved towards the bottom of its recent range on Wednesday,
although the uptrend remains intact. A move above 0.8700 is needed to strengthen
the uptrend, bringing the March 23 high back into view at 0.8723. The 100-dma &
50% retracement of 2019 range are placed behind at 0.8753/91. To regain the
upper hand bears look for a close below the 55-dma 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.