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

EURO-STERLING TECHS
EURO-STERLING TECHS: Bulls Need Close Above Gbp0.8928
*RES 4: Gbp0.9013 Monthly High Nov 15 
*RES 3: Gbp0.8981 High Nov 28 
*RES 2: Gbp0.8928 High Jan 12 
*RES 1: Gbp0.8917 Bollinger band top
*PRICE: Gbp0.8908 @ 1030GMT
*SUP 1: Gbp0.8885 200-DMA 
*SUP 2: Gbp0.8866 High Feb 28 now support 
*SUP 3: Gbp0.8835 Low Mar 1 
*SUP 4: Gbp0.8769 Low Feb 26
*COMMENTARY: Pressure has returned to Gbp0.8928 following the recovery from the
week's low. The close above the 200-DMA (Gbp0.8885) adds support to the bullish
case but a close above Gbp0.8928 is still needed to target Gbp0.9013-48. Daily
studies are well placed for gains. Layers of support are now a concern for bears
who look for a close below Gbp0.8835 to ease pressure on Gbp0.8928 and shift
initial focus back to Gbp0.8769 weekly lows so far.

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