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55-DMA Support Now Key *RES.....>

*RES 4: Gbp0.9013 Monthly High Nov 15 
*RES 3: Gbp0.8981 High Nov 28 
*RES 2: Gbp0.8928 High Jan 12 
*RES 1: Gbp0.8889 High Feb 16
*PRICE: Gbp0.8865 @ 0530GMT
*SUP 1: Gbp0.8833 55-DMA 
*SUP 2: Gbp0.8821 Hourly resistance Feb 8 now support 
*SUP 3: Gbp0.8776 Low Feb 9 
*SUP 4: Gbp0.8730 Low Feb 8
*COMMENTARY: Hesitation ahead of the key Gbp0.8928 resistance is less than ideal
as daily studies linger at O/B levels and momentum begins to correct. Bulls
still need a close above Gbp0.8928 to end bearish hopes and initially target
Gbp0.9013-48. Layers of support remain in place. Bears continue to look for a
close below the 55-DMA to ease bullish pressure and below Gbp0.8776 to shift
focus back to Gbp0.8685-0.8730.

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