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Corporate Debt Recap, World Bank Exp Wednesday

EURGBP TECHS

Resumes Its Downtrend

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Corrections Remain Shallow

FED

Reverse Repo Operation, Inching Higher

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Key Support Survived Last.......>

EURO-STERLING TECHS
EURO-STERLING TECHS: Key Support Survived Last Week And Generated A Bounce
*RES 4: Stg0.9207 3 month bull channel top projection
*RES 3: Stg0.9143 76.4% of Stg0.9402-Stg0.8305, Oct 10 high
*RES 2: Stg0.9137 1.618 swing of Stg0.9089-Stg 0.9008
*RES 1: Stg0.9119/23 Aug 11 high, 1% volatility band
*PRICE: Stg0.9078 @1608GMT
*SUP 1: Stg0.9065/70 Hourly support
*SUP 2: Stg0.9051 Aug 11 low
*SUP 3: Stg0.9022 5 week rising support line
*SUP 4: Stg0.9008/09 Aug 10, Aug 9 lows
*COMMENTARY* Has built on the support provided by the Stg0.9008-Stg0.9009 lows
last week, culminating in a move back above initial Stg0.9075 resistance and
also the swing target at Stg0.9091. A high of Stg0.9119 on Friday, basically in
line with a test to the upper 1% volatility band at Stg0.9123 but so far shy of
the next resistance from the Stg0.9137-Stg0.9143 area. As a result, support
rises to Stg0.9075-Stg0.9051.