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EURO-STERLING TECHS: Bull Trigger Shoots Blank:
*RES 3: 0.8975 High Sep 13
*RES 2: 0.8975 100-dma
*RES 1: 0.8937 High Oct 1 / Oct 4 and the reversal trigger
*PRICE: 0.8919 @ 15:37 GMT Oct 7
*SUP 1: 0.8832 Low Sep 30 and 200-dma
*SUP 2: 0.8803 Low Sep 25
*SUP 3: 0.8787 Low Sep 19 and bear trigger
After a decent session Friday, the cross rose to challenge 0.8937, the near-term
bull trigger, but the level failed to ignite any material move higher. Prices
swiftly reversed, turning attention back to congestion support alongside last
Friday's lows. Bulls still look to secure a clear breach of the bull trigger
(close above) which would confirm a breakout of the channel and importantly also
a trend reversal. Support for now remains 0.8832, a move back below this level
would instead highlight a resumption of the downtrend.