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Further Rise Relies On..........>

EURO-STERLING TECHS
EURO-STERLING TECHS: Further Rise Relies On Stg0.8850 Support Holding
*RES 4: Stg0.8951 76.4% Fibo of Stg0.9032-Stg0.8687
*RES 3: Stg0.8930 Jan 12 high
*RES 2: Stg0.8900 61.8% Fibo of Stg0.9032-Stg0.8687
*RES 1: Stg0.8893 3 month falling resistance line
*PRICE: Stg0.8885 @1055GMT
*SUP 1: Stg0.8850 Hourly support
*SUP 2: Stg0.8825 Hourly congestion area Feb 2-Feb 5
*SUP 3: Stg0.8813 Feb 5 low
*SUP 4: Stg0.8780 Feb 1 high, now support
*COMMENTARY* The recovery from last week's dip to Stg0.8716 is now more than
100% complete with the rally back through Stg0.8837. Has subsequently moved
through the higher Stg0.8873 level today, a 76.4% Fibo retrace of the most
recent fall from Stg0.8930. This now leaves the Stg0.8893-Stg0.8900 region as
the next potential bar to a Stg0.8930 return. Support comes from Stg0.8850, loss
would caution and suggest some overbought conditions are in need of repair.

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