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Heads Toward A Test Of..........>
EURO-STERLING TECHS: Heads Toward A Test Of Stg0.8863-Stg0.8859 Support
*RES 4: Stg0.9015/22 Nov 15, Oct 20 highs
*RES 3: Stg0.8980 Hourly highs Nov 15
*RES 2: Stg0.8954 Nov 17 high
*RES 1: Stg0.8925/35 Hourly resistance
*PRICE: Stg0.8893 @1058GMT
*SUP 1: Stg0.8859/63 76.4% Stg0.8811-Stg0.9015, Nov 8 high
*SUP 2: Stg0.8837 Nov 13 low
*SUP 3: Stg0.8811 Nov 10 low
*SUP 4: Stg0.8797 1% volatility band
*COMMENTARY* Faltered at Stg0.9015 last week, shy of the previous month's
Stg0.9022-Stg0.9032 highs. Wednesday's lower close, then saw the appearance of a
bearish 'Shooting Star' candle. This has resulted in a sharp fall, which today
heads towards the next area of support from between Stg0.8863-Stg0.8859. A loss
of the latter will be a further concern, attention then switching to the Nov 10
low at Stg0.8811. Resistance now Stg0.8925-Stg0.8935.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.