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Forex Technical Analysis | Jan 06, 2009 12:00AM GMT |
As the Euro was pressured to the downside, the 76.4% correction at 0.9431 failed to limit losses as the EUR/GBP pair breached the support level and was targeting the 61.8% correction at 0.92. Yesterday's decline was seen excessive and we expect to see a slight upside correction before attempting to reach the 0.92 level today and therefore any upside movement will be weak reaching the 0.9314 level before revering back to the downside.
| Support | 0.9235 | 0.9228 | 0.9217 | 0.9200 | 0.9173 |
| Resistance | 0.9280 | 0.9296 | 0.9314 | 0.9336 | 0.9352 |
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