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Free AccessPressure Continues On The.......>
EURO-STERLING TECHS: Pressure Continues On The Stg0.8809-Stg0.8802 Area
*RES 4: Stg0.8909/10 Jan 17, Jan 15 highs
*RES 3: Stg0.8885 Hourly basing area Jan 15-17
*RES 2: Stg0.8870 Hourly congestion Jan 12-16
*RES 1: Stg0.8855 Jan 12 low, now resistance
*PRICE: Stg0.8817 @1045GMT
*SUP 1: Stg0.8802/09 Jan 18 low, Jan 9, 17 lows
*SUP 2: Stg0.8779 61.8% Fibo of Stg0.8689-Stg0.8925
*SUP 3: Stg0.8755 1% volatility band
*SUP 4: Stg0.8744 76.4% Fibo of Stg0.8689-Stg0.8925
*COMMENTARY* The fallout from this month's failure at Stg0.8925 continues. Last
Wednesday's loss of the pivotal Stg0.8840 level, again heaping pressure back on
Stg0.8809-Stg0.8802 support. Above here there are now layers of resistance from
between Stg0.8855 and the now important Stg0.8909-10 area, that need to be
recovered, before the near term bias can return to the topside. Sustained loss
of Stg0.8802, has Stg0.8779-Stg0.8744 potential.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.