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Downside Remains Exposed:.......>

EURO-STERLING TECHS
EURO-STERLING TECHS: Downside Remains Exposed:
*RES 4: 0.9020 High Oct 10
*RES 3: 0.8896 61.8% retracement of Oct 10 - Oct 11 decline
*RES 2: 0.8868 High Oct 11
*RES 1: 0.8811 High Oct 14
*PRICE: 0.8671 @ 15:54 GMT Oct 15
*SUP 1: 0.8626 Low Oct 15
*SUP 2: 0.8600 Round number support
*SUP 3: 0.8592 3.0% 10-dma Envelope
*SUP 4: 0.8558 Low May 8
The bearish outlook in EURGBP solidified Tuesday as the sell-off extended,
confirming a sharp reversal of the recovery between Sep 20 - Oct 10. This, more
importantly, confirms a resumption of the M/T downtrend. If this current bearish
pressure is maintained, 0.8600 is eyed as first support, with May 8 lows at
0.8558 the ultimate target. Initial resistance remains at 0.8811, the Monday
high.

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