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Gbp0.8987-0.9048 Resistance.....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Gbp0.8987-0.9048 Resistance Key
*RES 4: Gbp0.9048 Low Aug15 now resistance
*RES 3: Gbp0.9033 High Oct 12
*RES 2: Gbp0.9008 55-DMA
*RES 1: Gbp0.8987 Hourly support Oct 12 now resistance
*PRICE: Gbp0.8977 @ 0930GMT
*SUP 1: Gbp0.8958 Hourly breakout level Oct 19 
*SUP 2: Gbp0.8924 Hourly support Oct 18 
*SUP 3: Gbp0.8908 Hourly support Oct 17 
*SUP 4: Gbp0.8856 Low Oct 16
*COMMENTARY: Despite pressuring the 21-DMA (Gbp0.8875) bears failed to manage
the close below needed to confirm focus on Gbp0.8728-57 where the 200-DMA and
55-WMA are located. The recovery from the week's lows sees pressure back on the
Gbp0.8987-0.9048 region where the bear channel top and 55-DMA are located. Bulls
need a close above Gbp0.9048 to end bearish hopes and shift focus to
Gbp0.9127-0.9202.

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