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

EURO-STERLING TECHS
EURO-STERLING TECHS: Bears Need Close Below Gbp0.8826
*RES 4: Gbp0.8981 High Nov 28 
*RES 3: Gbp0.8930 100-DMA 
*RES 2: Gbp0.8922 Low Nov 27 now resistance 
*RES 1: Gbp0.8892 High Dec 26
*PRICE: Gbp0.8870 @ 1030GMT
*SUP 1: Gbp0.8826 Low Dec 20 
*SUP 2: Gbp0.8780 Hourly support Dec 15 
*SUP 3: Gbp0.8759 Lows Dec 14 & 15 
*SUP 4: Gbp0.8736 Hourly resistance Dec 8 now support
*COMMENTARY: Despite trading above the bear channel top (Gbp0.8855) the pair
remains capped ahead of the 100-DMA. Bulls now need a close above the 100-DMA to
add support to their case and confirm initial focus on Gbp0.8981-0.9048. O/B
daily studies remain the key concern for bulls. Layers of support remain with
bears continuing to look for a close below Gbp0.8826 to shift initial focus back
to Gbp0.8690-0.8759.

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