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EURO-STERLING TECHS
EURO-STERLING TECHS: Fresh Rally Now Has Stg0.8850-Stg0.8854 As Resistance
*RES 4: Stg0.8915 Hourly base Nov 28, now resistance
*RES 3: Stg0.8880/90 Hourly high Nov 28, 1% vol band
*RES 2: Stg0.8850/54 Dec 7, Dec 6 highs
*RES 1: Stg0.8841 Intraday high
*PRICE: Stg0.8818 @1040GMT
*SUP 1: Stg0.8773 Intraday low
*SUP 2: Stg0.8717/25 Initial high Dec 8, hourly support
*SUP 3: Stg0.8687/89 1.618 swing 0.8756-0.8868, Dec 8 low
*SUP 4: Stg0.8642 Jun 8 low, equality fall from Stg0.8868
*COMMENTARY* Last weeks recovery was unable to deal with Stg0.8868-Stg0.8880
resistance. This leaving the downside vulnerable to a further assault. Initial
warning was the move back below Stg0.8780 and then Stg0.8756 on Friday. A low of
Stg0.8689 then seen, just above the swing target at Stg0.8687, this protecting
against a Stg0.8642 fall. Subsequent rally above Stg0.8810-15 has Stg0.8850-54
as next barrier. Meanwhile, Stg0.8773-Stg0.8717 support.

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