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Correction Continues Eyeing.....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Correction Continues Eyeing 61.8% Fibo Retrace At Stg0.8838
*RES 4: Stg0.8873 76.4% of Stg0.8930-Stg0.8687
*RES 3: Stg0.8846 Jan 19 high
*RES 2: Stg0.8838 Jan 18 high, 61.8% of Stg0.8930-Stg0.8687
*RES 1: Stg0.8816 Intraday high
*PRICE: Stg0.8796 @1730GMT
*SUP 1: Stg0.8767 Intraday low
*SUP 2: Stg0.8745 Hourly support
*SUP 3: Stg0.8724 Jan 26 low
*SUP 4: Stg0.8711 1% volatility band
*COMMENTARY* The Dec 8 low at Stg0.8689 was squeezed on Thursday, a slightly
lower Stg0.8687 seen, before bouncing again. This now allows some interim
Stg0.8767-Stg0.8711 support above. The sustained move back through
Stg0.8770-Stg0.8775 is encouraging and suggests some correction of losses from
the month's earlier Stg0.8925-Stg0.8930 highs, with the Jan 18 high and 61.8%
Fibo retrace level at Stg0.8838 now the next barrier to surmount.

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