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EURO-STERLING TECHS: Decline Continues, Looking To Stg0.8747-Stg0.8737 Next
*RES 4: Stg0.8880 Oct 25 low, now resistance
*RES 3: Stg0.8851/54 Oct 26 low, hourly high Oct 27
*RES 2: Stg0.8826 Oct 27 low, hourly high Oct 27
*RES 1: Stg0.8805/10 Hourly resistance
*PRICE: Stg0.8772 @1630GMT
*SUP 1: Stg0.8767 Intraday low
*SUP 2: Stg0.8746 Sep 27 low
*SUP 3: Stg0.8737 1.618x Stg0.9032-Stg0.8856 from Stg0.9022
*SUP 4: Stg0.8714 2% volatility band
*COMMENTARY* The pullback has continued this week, most latterly falling below
the 76.4% Fibo retrace level at Stg0.8813 and also now beneath the lower 1%
volatility band at Stg0.8800 by time today. This sees the Sep 27 low at
Stg0.8746 as the next downside aim, ahead of the 1.618 projection target at the
slightly lower Stg0.8737. Resistance Stg0.8805-10 and then Stg0.8826, the bar to
any near term recovery.