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Continued Decline Has...........>

EURO-STERLING TECHS
EURO-STERLING TECHS: Continued Decline Has Stg0.8820-Stg0.8815 In It's Sights
*RES 4: Stg0.8968 Mar 7 high
*RES 3: Stg0.8935 Hourly recovery high Mar 7 
*RES 2: Stg0.8915 Hourly congestion Mar 5-Mar 9
*RES 1: Stg0.8880/85 Hourly resistance
*PRICE: Stg0.8829 @1500GMT
*SUP 1: Stg0.8815/20 Hourly congestion Feb 26-Feb 27
*SUP 2: Stg0.8794/02 61.8% Stg0.8687-Stg0.8968, 1% vol band
*SUP 3: Stg0.8771 Feb 26 low
*SUP 4: Stg0.8753 76.4% Fibo of Stg0.8687-Stg0.8968
*COMMENTARY* It seems that we were not ready for a challenge to the top of the
congested trading area that has prevailed for the last 6 months, let alone a
break out. The failure below Stg0.8981 last week, has seen a return into the
recent range. Near term support from Stg0.8875-Stg0.8870 has been lost and now
opens the way for a deeper Stg0.8820-Stg0.8815 fall. Meanwhile,
Stg0.8880-Stg0.8885 currently bars the way to any near term recovery. 

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