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Bears Need Close Below..........>

EURO-STERLING TECHS
EURO-STERLING TECHS: Bears Need Close Below Gbp0.8717
*RES 4: Gbp0.8867 55-DMA 
*RES 3: Gbp0.8800 200-DMA 
*RES 2: Gbp0.8774 Hourly support Dec 7 now resistance 
*RES 1: Gbp0.8759 Hourly resistance Dec 7
*PRICE: Gbp0.8721 @ 0530GMT
*SUP 1: Gbp0.8717 Low June 16 
*SUP 2: Gbp0.8649 June 8 
*SUP 3: Gbp0.8599 Low May 24 
*SUP 4: Gbp0.8487 100-WMA
*COMMENTARY: Rallies have remained capped ahead of the 55-DMA this week
resulting in pressure on key support. Bears need a close below Gbp0.8717 to
reconfirm a bearish bias initially targeting Gbp0.8599-0.8649 with overall focus
on Gbp0.8380-0.8515 where the bear channel base (Gbp0.8457) is noted. Bulls now
need a close above the 200-DMA to ease bearish pressure and hint at a correction
back to the 55-DMA.

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