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IHG - Retest of the breakout and 38.2% Fibonacci support.

Long
LSE:IHG   INTERCONTINENTAL HOTELS GROUP PLC ORD 20 340/399P
IHG is trading in a strong long term uptrend. The shares have corrected lower in recent weeks but buying support has been found at the previous break out level, which is now support. The correction is also inline with a 38.2% Fibonacci support level adding further weight to the bullish argument. Further upside is expected over the short to medium term.

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