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EURO-STERLING TECHS: Bears Focus On 55-WMA & 200-DMA
*RES 4: Gbp0.8925 Alternating hourly support/resistance
*RES 3: Gbp0.8910 21-DMA
*RES 2: Gbp0.8901 High Oct 27
*RES 1: Gbp0.8845 Hourly resistance Oct 27
*PRICE: Gbp0.8837 @ 0530GMT
*SUP 1: Gbp0.8830 Weekly Bull channel base
*SUP 2: Gbp0.8818 Bollinger band base
*SUP 3: Gbp0.8800 Low Oct 2
*SUP 4: Gbp0.8753 200-DMA
*COMMENTARY: The pair remains heavy with Friday's bounce remaining capped ahead
of the 21-DMA. Bears remain focused on Gbp0.8722-53 where Sept lows, the 200-DMA
and 55-WMA (Gbp0.8722) are situated. The weekly bull channel base comes in
around Gbp0.8030 this week with bears needing a close below Gbp0.8800 to confirm
a break and add weight to the bearish case. Bulls need a close above the 21-DMA
to ease bearish pressure.
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