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From : FX Daily Hotline: 29 July 2015
Chart of the day: Euro rallies back into m-t downtrend vs Sterling

The Euro again encounters its medium term downtrend against the Pound Sterling and likely resistance at the 50-day MA level after its oversold rally. We now watch for a downward move back towards the previous June low (0.6989) where we anticiapte a test.

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