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100-DMA Confirms Significance...>

EURO-STERLING TECHS
EURO-STERLING TECHS: 100-DMA Confirms Significance
*RES 4: Gbp0.9048 Low Aug 15 now resistance 
*RES 3: Gbp0.8981 High Nov 28 
*RES 2: Gbp0.8921 100-DMA 
*RES 1: Gbp0.8884 Hourly resistance Jan 3
*PRICE: Gbp0.8861 @ 0530GMT
*SUP 1: Gbp0.8855 Hourly support Jan 2 
*SUP 2: Gbp0.8826 Low Dec 20 
*SUP 3: Gbp0.8780 Hourly support Dec 15
*SUP 4: Gbp0.8759 Lows Dec 14 & 15
*COMMENTARY: The 100-DMA confirmed significance with the pair capped and
rejected aggressively ahead of this level, leaving the pair looking heavy and
flirting with the 55-DMA (Gbp0.8859). Bears need a close below the 55-DMA to
confirm an easing of bullish pressure and below Gbp0.8826 to shift initial focus
back to Gbp0.8690-0.8759. Correcting O/B studies add weight to the bearish case.
Bulls need a close above the 100-DMA to target Gbp0.8981-0.9048.

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