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Decline Heads Toward Lower 2%...>

EURO-STERLING TECHS
EURO-STERLING TECHS: Decline Heads Toward Lower 2% Volatility Band
*RES 4: Stg0.9025 Intraday hourly high
*RES 3: Stg0.8995/00 Hourly congestion area Sep 12-14
*RES 2: Stg0.8975 Sep 13 low, now resistance
*RES 1: Stg0.8945/50 Hourly resistance
*PRICE: Stg0.8920 @1155GMT
*SUP 1: Stg0.8908/11 2% volatility band, intraday low
*SUP 2: Stg0.8876/80 76.4% Stg0.8743-Stg0.9306, Jun 28 high
*SUP 3: Stg0.8867 Jun 12 high, now support
*SUP 4: Stg0.8810 50% Fibo of Stg0.8313-Stg0.9306
*COMMENTARY* An extremely brief spike above Stg0.9039 has not been enough to
save the downside from further exploration today. The subsequent fall back
through Stg0.8975-Stg0.8958 has now seen the 38.2% Fibo retrace level at
Stg0.8927 give way. This leaves the lower 2% volatility band at Stg0.8908 by
time today, as the protection against a further St0.8880-Stg0.8867 drop.
Meanwhile, Stg0.8945-Stg0.8975 now provides immediate resistance.

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