Uptrend Under Pressure EURGBP...>

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.