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50-dma proves magnetic: *RES....>

EURO-STERLING TECHS
EURO-STERLING TECHS: 50-dma proves magnetic:
*RES 4: 0.9276 High Aug 14
*RES 3: 0.9184/9207 High Aug 22 / Low Aug 8
*RES 2: 0.9131 Key resistance
*RES 1: 0.9123 High Aug 28
*PRICE: 0.9068 @ 04:39 GMT Aug 30
*SUP 1: 0.9016 Low Aug 27
*SUP 2: 0.9006/00 38.2% retrace of May 6 - Aug 12 rally / Round number support
*SUP 3: 0.8946 Low Jul 26
*SUP 4: 0.8908/8892 50% retrace of May 6 - Aug 12 rally / Low Jul 25
EUR/GBP is trading either side of the 50-dma, proving the level remains magnetic
for now (0.9063 at writing). This area also represents the key trendline support
drawn off the May 6 low, breached temporarily earlier this week. Whether the
recent correction has ended, depends on whether 0.9016 support holds,
Wednesday's low. A return lower would open 0.9000 and the late July lows of
0.8946 / 0.8892. Gains above Wednesday's 0.9123 high would open 0.9184.

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