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Bears Need Close Below 21-DMA...>

EURO-STERLING TECHS
EURO-STERLING TECHS: Bears Need Close Below 21-DMA
*RES 4: Gbp0.9010 55-DMA
*RES 3: Gbp0.8987 Hourly support Oct 12 now resistance
*RES 2: Gbp0.8948 Alternating hourly support/resistance
*RES 1: Gbp0.8931 Hourly resistance Oct 13
*PRICE: Gbp0.8890 @ 0930GMT
*SUP 1: Gbp0.8857 21-DMA 
*SUP 2: Gbp0.8801 Low Oct 2 
*SUP 3: Gbp0.8744 200-DMA 
*SUP 4: Gbp0.8717 Low June 16
*COMMENTARY: The excursion into the Gbp0.8992-0.9045 resistance region lacked
follow through with the pair rejected ahead of Gbp0.9048. The sell-off leaves
the pair looking heavy and focus on the 21-DMA. Bears look for a close below the
21-DMA to end bullish hopes and target Gbp0.8717-57. Bulls now need a close
above Gbp0.8948 to gain breathing room and above Gbp0.8987 to return focus to
Gbp0.9012-44. Correcting O/B studies add weight to the bearish case.

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