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Gbp0.8717 Support Remains Key...>

EURO-STERLING TECHS: Gbp0.8717 Support Remains Key
*RES 4: Gbp0.8954 Daily Bear channel top 
*RES 3: Gbp0.8922 Low Nov 27 now resistance 
*RES 2: Gbp0.8873 55-DMA 
*RES 1: Gbp0.8843 Hourly resistance Nov 29
*PRICE: Gbp0.8803 @ 0530GMT
*SUP 1: Gbp0.8774 Bollinger band base, Low Nov 30 
*SUP 2: Gbp0.8724 55-WMA 
*SUP 3: Gbp0.8717 Low June 16 
*SUP 4: Gbp0.8649 Monthly Low June 8
*COMMENTARY: Topside failures above the 100-DMA (Gbp0.8955) and bear channel top
have resulted in a dip below the 200-DMA (Gbp0.8794) but so far follow through
has been lacking. Bulls continue to look for a close above the 55-DMA to ease
bearish pressure and shift focus back to Gbp0.8949-81 where the bear channel top
and 100-DMA are noted. Bears need a close below Gbp0.8717 to reconfirm a bearish
bias and target Gbp0.8474-83 where the bear channel base and 100-WMA are noted.

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