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Bulls Still Need Close Above....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Bulls Still 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: Gbp0.8909 High Feb 6
*PRICE: Gbp0.8883 @ 0530GMT
*SUP 1: Gbp0.8872 Hourly support Feb 12 
*SUP 2: Gbp0.8843 Hourly support Feb 9 
*SUP 3: Gbp0.8821 Hourly resistance Feb 8 now support 
*SUP 4: Gbp0.8776 Low Feb 9
*COMMENTARY: Bulls take comfort in the close above the 200-DMA (Gbp0.8867) that
adds support to the bullish case. In saying that bulls still need a close above
Gbp0.8928 to end bearish hopes and initially target Gbp0.9013-48. Layers of
support building add to bullish confidence. Bears continue to look for a close
below Gbp0.8821 to ease bullish pressure and below Gbp0.8776 to shift focus back
to Gbp0.8685-0.8730.

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