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Consolidating *RES 4: 0.8651....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Consolidating
*RES 4: 0.8651 Trendline resistance drawn off the Aug 12 high
*RES 3: 0.8605 High Nov 22 /2.0% Upper Bollinger Band
*RES 2: 0.8575 High Dec 2
*RES 1: 0.8557 High Dec 19
*PRICE: 0.8631 @ 10:25 GMT Dec 23
*SUP 1: 0.8477 Low Dec 19 and 20
*SUP 2: 0.8356 Low Dec 17
*SUP 3: 0.8277 Low Dec 13 and key support
*SUP 4: 0.8213 1.500 projection of Aug 12 - Sep 20 sell-off from Oct 10 high
EURGBP is consolidating. The cross remains bullish for now following last week's
gains that saw the pair hit new post-election highs of 0.8557. The break of
former resistance at 0.8509, Dec 12 high has essentially confirmed a short-term
base and opens 0.8575, Dec 2 high and potentially above. Note that if the cross
trades above 0.8605, Nov 22 high, this would expose the key trendline resistance
at 0.8651, drawn off the August high. Support is seen at 0.8477.

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