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Comfortable Trading Sideways....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Comfortable Trading Sideways
*RES 4: 0.8787 Low Sep 20 and former breakout point
*RES 3: 0.8751 High Oct 15
*RES 2: 0.8717 High Oct 16 and key near-term resistance
*RES 1: 0.8676 High Oct 24
*PRICE: 0.8632 @ 05:22 GMT Nov 4
*SUP 1: 0.8576 Low Oct 17 and bear trigger
*SUP 2: 0.8558 Low May 8
*SUP 3: 0.8491 Low May 6 and major support
*SUP 4: 0.8482 1.000 projection of Aug 12 - Sep 20 decline from Oct 10 high
Nothing new to report on EURGBP with the cross still trading sideways. This
consolidation retains the bear flag / pennant formation. This is a continuation
pattern that if correct, highlights the likelihood the pair will depreciate
further near-term. Note, we are also still monitoring the candle patterns on Oct
16/17, two long-legged doji formations. They are potentially a basing signal
however, a breach of 0.8717 is required to reinforce this. Bearish still.

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