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Congested Resistance Remains....>

EURO-STERLING TECHS: Congested Resistance Remains Between Stg0.8900-Stg0.8909
*RES 4: Stg0.8981 Nov 28 high
*RES 3: Stg0.8951 76.4% Fibo of Stg0.9032-Stg0.8867
*RES 2: Stg0.8920/26 % volatility band, Jan 12 high
*RES 1: Stg0.8900/09 Hourly resistance, Feb 6 high
*PRICE: Stg0.8880 @0930GMT
*SUP 1: Stg0.8843/55 Feb 12 low, hourly support
*SUP 2: Stg0.8820 Hourly recovery high Feb 8, now support
*SUP 3: Stg0.8779 Feb 9 low
*SUP 4: Stg0.8732 Feb 8 low
*COMMENTARY* The rally begun at the back end of last week has been curtailed by
still difficult resistance from between Stg0.8900-Stg0.8909. This area also
including a 61.8% Fibo retrace level and the 3 month falling resistance line.
Will need to sustain a break through here, before any real confidence in the
topside will follow, Stg0.8920-26 then the bar to a Stg0.8951 rise. Support from
Stg0.8855-Stg0.8820, loss of the latter will see a return back into the range.  

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