###POV LT Bears Focused On......>

EURO-STERLING TECHS: ###POV LT Bears Focused On Gbp0.8108-8313

- Bulls dominated from Nov 2016 to Oct 2017 resulting in 7yr highs (Gbp0.9365).

The rejection ahead of Gbp0.9365 in Aug 2017 (Gbp0.9306) saw a break of the bull

channel base off Nov 2016 lows with the pair having traded sideways since,

increasing the likelihood of a correction lower.

- The close below the 100-WMA adds weight to the bearish case with bears looking

for a close below Gbp0.8380 (Monthly Low May 10 2017) to confirm immediate focus

on Gbp0.8313 2017 lows and overall focus on Gbp0.8108-17 (200-WMA Gbp0.8108).

Weekly studies are well positioned for a leg lower with room to move before O/S

is an issue. Below the 200-WMA would initially target Gbp0.7522 alternating

weekly support/resistance.

- The 55-WMA is noted at Gbp0.8814 with LT bulls needing a close above to gain

breathing room and hint at a correction back to Gbp0.8967-0.9107. Overall LT

bulls need a close above Gbp0.9107 to end bearish hopes and see LT bulls

initially targeting Gbp0.9306-65 with overall focus on Gbp0.9801 lifetime highs

(Dec 2008). Click for chart https://tinyurl.com/y9awzvla