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Correction Continues,...........>

EURO-STERLING TECHS
EURO-STERLING TECHS: Correction Continues, Stg0.8957-Stg0.8961 Potential
*RES 4: Stg0.9022/32 Oct 20, Oct 12 highs
*RES 3: Stg0.8976 Oct 24 high
*RES 2: Stg0.8957/61 Oct 26 high, 76.4% Stg0.9032-Stg0.8733
*RES 1: Stg0.8939 Nov 2 high
*PRICE: Stg0.8893 @1325GMT
*SUP 1: Stg0.8860 Hourly support
*SUP 2: Stg0.8835 Hourly base Nov 2
*SUP 3: Stg0.8813 Initial intraday rally high, now support
*SUP 4: Stg0.8784 Nov 1 high, now support
*COMMENTARY* The pullback squeezed to a low of Stg0.8733 on Wednesday, just
slightly below the 1.618 projection target at Stg0.8737. The subsequent rally is
aided by some heavily oversold conditions and with the move through
Stg0.8805-Stg0.8826 has launched a correction of losses from last month's
Stg0.9032 high. Next up is Oct 26 high at Stg0.8957 and the 76.4% Fibo retrace
level at Stg0.8961. Nearest support of note moves up to an initial Stg0.8860.

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