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On for a Decent Close *RES 4:...>

EURO-STERLING TECHS
EURO-STERLING TECHS: On for a Decent Close
*RES 4: 0.8658 High Nov 7
*RES 3: 0.8651 Trendline resistance drawn off the Aug 12 high
*RES 2: 0.8605 High Nov 22 /2.0% Upper Bollinger Band
*RES 1: 0.8581 High Dec 23
*PRICE: 0.8631 @ 10:25 GMT Dec 23
*SUP 1: 0.8477 Low Dec 19 and 20
*SUP 2: 0.8356 Low Dec 17
*SUP 3: 0.8277 Low Dec 13 and key support
*SUP 4: 0.8213 1.500 projection of Aug 12 - Sep 20 sell-off from Oct 10 high
EURGBP is inching higher and on course for a decent December. The cross remains
bullish following last week's gains and is hitting new post-election highs of
0.8581. The break of former resistance at 0.8509, Dec 12 high has essentially
confirmed a short-term base and opens further gains. Note that if the cross
trades above 0.8605, Nov 22 high, this would expose the key trendline resistance
at 0.8651, drawn off the August high. Support is seen at 0.8477.

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