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STO Technical - EUR/GBP eyes 200 day MA

EUR/GBP has rejected the 38.2% retracement of the post Brexit referendum rally and is now poised to cross below the 200 day moving average, currently around 0.8470. If this falls look for support at the 50% retracement just below 0.8400, followed by December lows around 0.8300.

USD/JPY is failing to post a break higher. Look for support at February lows around 111.75 then the 38.2% retracement level of 111.15. Resistance at or above the 23.6% retracement level around 114-114.50

This article comprises the personal view and opinion of the STO Investment Research Desk and at no time should be construed as Investment Advice.

STO Review

Tuesday, 21 Feb, 2017 / 8:24

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