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###POV Sell-Off Targeting.......>

EURO-STERLING TECHS: ###POV Sell-Off Targeting Gbp0.8086-8306 Not Far Off
- Bulls benefited from a stellar run from Nov 2016 to Oct 2017 resulting in 7
year highs (Gbp0.9350). The failure to break Gbp0.9350 in Aug 2017 (Gbp0.9306)
resulted in a break of the weekly bull channel base off Nov 2016 lows with the
pair having traded sideways since, which increases the likelihood of a
correction lower.
- The Gbp0.8531-0.8656 support region is now key for LT traders with the 100-WMA
noted at Gbp0.8612. LT bears need a close below Gbp0.8531 to confirm a
correction initially targeting Gbp0.8086-0.8306 where the 200-WMA (Gbp0.8086) is
noted. Below the 200-WMA is needed to shift initial LT focus back to Gbp0.7566
May 2016 lows.
- The Gbp0.9032-0.9111 resistance region is key for LT traders. LT bulls need a
close above this region to hint at a resumption of the bull trend with above
Gbp0.9350 to return focus to Gbp0.9801 lifetime highs (Dec 2008).
- Click for chart

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