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Bears Need Close Below 21-DMA...>

EURO-STERLING TECHS
EURO-STERLING TECHS: Bears Need Close Below 21-DMA
*RES 4: Gbp0.9270 Alternating hourly support/resistance
*RES 3: Gbp0.9248 Low Aug 29 now resistance
*RES 2: Gbp0.9238 High Aug 31
*RES 1: Gbp0.9186 Low Aug 31 now resistance
*PRICE: Gbp0.9171 @ 0430GMT
*SUP 1: Gbp0.9186 Low Aug 31 
*SUP 2: Gbp0.9149 High Aug 18 now support, 21-DMA 
*SUP 3: Gbp0.9091 Low Aug 18 
*SUP 4: Gbp0.9049 Low Aug 15
*COMMENTARY: After a stellar run the pair looks a little heavy with immediate
pressure having returned to the 21-DMA. Bears need a close below the 21-DMA to
hint at move lower that targets Gbp0.8973-0.9049 where the bull channel base
(Gbp0.9003) and 55-DMA (Gbp0.8973) are situated. Layers of resistance and
correcting O/B studies are adding weight to the correction case. Bulls need a
close above Gbp0.9248 to regain the upper hand and retain focus on 2016 highs.

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