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Gbp0.8717 Support Remains Key...>

EURO-STERLING TECHS
EURO-STERLING TECHS: Gbp0.8717 Support Remains Key
*RES 4: Gbp0.8953 100-DMA 
*RES 3: Gbp0.8928 Daily Bear channel top 
*RES 2: Gbp0.8922 Low Nov 27 now resistance 
*RES 1: Gbp0.8871 55-DMA
*PRICE: Gbp0.8818 @ 0530GMT
*SUP 1: Gbp0.8801 Hourly support Dec 6 
*SUP 2: Gbp0.8753 Low Dec 4 
*SUP 3: Gbp0.8729 55-WMA 
*SUP 4: Gbp0.8717 Low June 16
*COMMENTARY: Topside failures above the 100-DMA and bear channel top resulted in
dips below the 200-DMA (Gbp0.8800) but follow through remains lacking. Bulls
continue to look for a close above the 55-DMA to ease bearish pressure and shift
focus back to Gbp0.8922-81 where the bear channel top and 100-DMA are noted.
Bears need a close below Gbp0.8717 to reconfirm a bearish bias and target
Gbp0.8462-88 where the bear channel base, 100-WMA & May lows are situated.

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