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Key Support Gives Way *RES 4:...>

EURO-STERLING TECHS
EURO-STERLING TECHS: Key Support Gives Way
*RES 4: 0.9240 High Mar 26
*RES 3: 0.9184 61.8% Fibonacci retracement of the Mar - Apr decline
*RES 2: 0.9176 High Jun 29 and the bull trigger
*RES 1: 0.9080 High Jul 1
*PRICE: 0.8984 @ 16:53 BST Jul 7
*SUP 1: 0.8976 Low Jun 25 and key near-term support
*SUP 2: 0.8950 Low Jun 18
*SUP 3: 0.8946/12 50-day EMA / Low Jun 16
*SUP 4: 0.8883 Low Jun 10
Having stalled at 0.9176 on Jun 29, the subsequent pullback has now taken out
0.90 to touch fresh multi-week lows. This marks a bearish development.
Furthermore, the Jun 30 price pattern was a bearish engulfing candle that warns
of a top. This makes the 50-dma at 0.8930 the primary downside target. 0.9176 is
the trigger for a resumption of gains.

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