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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: Gbp0.8881 @ 0930GMT
*SUP 1: Gbp0.8872 Low Oct 13 
*SUP 2: Gbp0.8863 21-DMA 
*SUP 3: Gbp0.8801 Low Oct 2 
*SUP 4: Gbp0.8741 200-DMA
*COMMENTARY: The rejection above the 55-DMA last week left the pair looking
heavy with immediate pressure back on the 21-DMA. Bears continue to look for a
close below the 21-DMA to end bullish hopes and target Gbp0.8717-57. Bulls still
need a close above Gbp0.8948 to gain breathing room and above Gbp0.8987 to
return focus to Gbp0.9010-44 where the 55-DMA is noted. Correcting O/B studies
add weight to the bearish case.

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