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Decline Continues After Break...>

EURO-STERLING TECHS
EURO-STERLING TECHS: Decline Continues After Break Below Stg0.8779-Stg0.8771 
*RES 4: Stg0.8886 Mar 13 high
*RES 3: Stg0.8850 Mar 12 low, now resistance
*RES 2: Stg0.8825 Mar 15 low, now resistance
*RES 1: Stg0.8790/00 Hourly resistance
*PRICE: Stg0.8753 @1309GMT
*SUP 1: Stg0.8732 Feb 8 low
*SUP 2: Stg0.8717 Feb 1 low
*SUP 3: Stg0.8687 Jan 25 low
*SUP 4: Stg0.8685 2% volatility band
*COMMENTARY* The fallout from the failure to deal with the top of the congested
trading area that has prevailed for the last 6 months has continued with a
vengeance today. The loss of Stg0.8815 has been followed by a further move below
Stg0.8779-Stg0.8771. This now leaves the Feb 8 low at Stg0.8732 and the Feb 1
low at Stg0.8717 protecting the range base at Stg0.8687. In the meantime,
resistance from Stg0.8790-Stg0.8800 keeps a lid on near term recovery potential.

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