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Key DMAs Capping *RES 4:........>

*RES 4: Gbp0.8872 Daily Bear channel top 
*RES 3: Gbp0.8853 100-DMA 
*RES 2: Gbp0.8849 200-DMA 
*RES 1: Gbp0.8821 21-DMA
*PRICE: Gbp0.8765 @ 0530GMT
*SUP 1: Gbp0.8752 Low Jan 30 
*SUP 2: Gbp0.8719 Hourly support Jan 25 
*SUP 3: Gbp0.8685 2018 Low Jan 25 
*SUP 4: Gbp0.8649 Low May 8
*COMMENTARY: Bears take comfort as the recovery from 2018 lows remains capped
ahead of key DMAs and the daily bear channel top. Bulls need a close above the
bear channel top to end bearish hopes and shift focus to layers of resistance
Gbp0.8928-0.9048. The pair remains heavy following the sell-off Tuesday with
bears now needing a close below Gbp0.8752 to reconfirm initial focus on 2018
lows and then the 100-WMA (Gbp0.8578) on a close below. 

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