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Correction extends: *RES 3:.....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Correction extends:
*RES 3: 0.9400 Psychological level
*RES 2: 0.9325 High Aug 12
*RES 1: 0.9207 Low Aug 8
*PRICE: 0.9139 @ 15:06 GMT Aug 16
*SUP 1: 0.9090/89 Low Aug16 / Low Jul 31
*SUP 2: 0.9051 High Jul 17 and former bull trigger
*SUP 3: 0.9044 Lower 2.0% 10-dma envelope
The corrective phase continued Friday, with markets only managing to find some
support at the Jul 31 low of 0.9089 to stem the decline. This paves the way for
a deeper pullback that could see the cross trade down to the July 17 high and
former bull trigger level of 0.9051. Note too that trendline support drawn off
the May 6 low intersects at 0.9000. To regain upside momentum, bulls need to
reclaim 0.9207. The bull trigger for a resumption of the trend is 0.9325, a
break would again open the Oct 2016 high of 0.9415.

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