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Closed Above 100-dma: *RES 4:...>

EURO-STERLING TECHS
EURO-STERLING TECHS: Closed Above 100-dma:
*RES 4: 0.9056 50% retracement of Aug 12 - Sep 20 decline
*RES 3: 0.9019 50-dma
*RES 2: 0.9015 High Sep 9
*RES 1: 0.9000 High Oct 8
*PRICE: 0.8985 @ 04:52 GMT Oct 10
*SUP 1: 0.8902 Low Oct 7
*SUP 2: 0.8852 Former channel resistance-now-support
*SUP 3: 0.8832 Low Sep 30 and 200-dma
*SUP 4: 0.8803 Low Sep 25
EURGBP maintains a near-term bullish tone with the focus on the 0.9000 level and
the 50-dma resistance at 0.9019. This follows the recent bear channel breakout
that confirmed a trend reversal. Furthermore, momentum studies are pointing
higher and yesterday the cross closed above the 100-dma at 0.8979, further
reinforcing the bullish structure. Stronger gains are likely, with scope for
0.9147, Sep 3 high and the 0.9056 retracement. 0.8902 marks initial support.

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