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Eur/Gbp continues moving downward

Written July 10, 2009 at 5:34 AM EST by Vincent Facchino 

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As noted earlier Eur/Gbp seems to have started a downward trend. It has now traded below Fibo 50% retracement of June 29 low (.8433). Next area of support is 61.8% retracement at .8523. A break of this level should find Eur/Gbp in a very bearish mode with not much support to stop downward trend.

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