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Cracks Support

EURO-STERLING TECHS
  • RES 4: 0.9148 High Jul 27
  • RES 3: 0.9087 High Jul 29
  • RES 2: 0.9070 High Aug 17 and key near-term resistance
  • RES 1: 0.9010/19 50- and 20-day EMA
  • PRICE: 0.8944 @ 17:18 BST Aug 27
  • SUP 1: 0.8930 Low Aug 27
  • SUP 2: 0.8912 Low Jun 16
  • SUP 3: 0.8891 50% Feb - Mar Rally
  • SUP 4: 0.8864 Low Jun 9

A near-term bearish outlook strengthened Thursday as the cross hit new multi-month lows. This sets the scene for a deeper pullback following the recent failure to build on gains in early August. A break lower opens 0.8912, Jun 16 low and Fib support at 0.8891. On the upside, clearance of 0.9070 is required to suggest a change in direction.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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