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Bulls Need Close Above..........>

EURO-STERLING TECHS
EURO-STERLING TECHS: Bulls Need Close Above Gbp0.8948
*RES 4: Gbp0.9010 55-DMA
*RES 3: Gbp0.8987 Hourly support Oct 12 now resistance
*RES 2: Gbp0.8948 Alternating hourly support/resistance
*RES 1: Gbp0.8931 Hourly resistance Oct 13a
*PRICE: Gbp0.8924 @ 0930GMT
*SUP 1: Gbp0.8908 Hourly support Oct 17 
*SUP 2: Gbp0.8856 Low Oct 16 
*SUP 3: Gbp0.8801 Low Oct 2 
*SUP 4: Gbp0.8746 Monthly Low Sept 27
*COMMENTARY: The rejection above the 55-DMA last week left the pair looking
heavy and flirting with the 21-DMA (Gbp0.8869). Bulls take comfort on support
emerging on dips below the 21-DMA with pressure having returned to Gbp0.8926-48
where the 100-DMA is noted. Bulls need a close above Gbp0.8948 to return focus
to Gbp0.8987-0.9048 where the 55-DMA is located. Correcting O/B daily studies
are seen weighing at present and remain the key concern for bears.

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