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Bears Need Close Below 21-DMA...>

EURO-STERLING TECHS
EURO-STERLING TECHS: Bears Need Close Below 21-DMA
*RES 4: Gbp0.8987 Hourly support Oct 12 now resistance
*RES 3: Gbp0.8948 Alternating hourly support/resistance
*RES 2: Gbp0.8931 Hourly resistance Oct 13a
*RES 1: Gbp0.8899 Hourly resistance Oct 13
*PRICE: Gbp0.8848 @ 0930GMT
*SUP 1: Gbp0.8801 Low Oct 2 
*SUP 2: Gbp0.8746 Monthly Low Sept 27 
*SUP 3: Gbp0.8745 200-DMA 
*SUP 4: Gbp0.8728 55-WMA
*COMMENTARY: The rejection above the 55-DMA last week left the pair looking and
flirting with the 21-DMA (Gbp0.8860). Bears need a close below the 21-DMA to end
bullish hopes and target Gbp0.8728-46. Resistance layers continue to accumulate
and weigh. Bulls now need a close above Gbp0.8899 to gain breathing room and
above Gbp0.8948 to shift focus back to Gbp0.9008-45 where the 55-DMA is noted.
Correcting O/B studies add weight to the bearish case.

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