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Bounces well off lower lows:....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Bounces well off lower lows:
*RES 3: 0.9072/82 Trendline resistance drawn off Aug 12 high/1.0% 10-dma
envelope
*RES 2: 0.9031 High Sep 5
*RES 1: 0.9015 High Sep 9
*PRICE: 0.8960 @ 15:45 GMT Sep 12
*SUP 1: 0.8886 Intraday Low
*SUP 2: 0.8873 Low Jun 20
*SUP 3: 0.8864 Bear channel base drawn off the Aug 12 high
The ECB decision delivered volatility in spades, sending the pair to print a new
downtrend low at 0.8886. The cross bounced well from there, however, prompting
bulls to re-target the 0.90 level and the week's highs at 0.9015. Despite the
Thursday moves, momentum and moving average studies continue to point south
reinforcing the over-arching bearish theme. Any fall through 0.8886 opens the
bear channel base drawn off the Aug 12 high, and early June lows at 0.8830.

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