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Pressure Remains On 21-DMA......>

EURO-STERLING TECHS
EURO-STERLING TECHS: Pressure Remains On 21-DMA
*RES 4: Gbp0.8967 Hourly support Oct 19a now resistance 
*RES 3: Gbp0.8940 Hourly resistance Oct 20 
*RES 2: Gbp0.8924 Hourly resistance Oct 23 
*RES 1: Gbp0.8906 Hourly resistance Oct 24
*PRICE: Gbp0.8898 @ 0430GMT
*SUP 1: Gbp0.8892 21-DMA 
*SUP 2: Gbp0.8856 Low Oct 16 
*SUP 3: Gbp0.8801 Low Oct 2 
*SUP 4: Gbp0.8746 Monthly Low Sept 27
*COMMENTARY: Bulls failed to gain traction above the 55-DMA with the sell-off
Friday leaving the pair looking heavy and focus back on Gbp0.8856-92 where the
bull channel base and 21-DMA are situated. Bears need a close below Gbp0.8856 to
shift focus back to Gbp0.8726-48 where monthly lows, the 55-WMA & 200-DMA are
noted. Bulls need a close above Gbp0.8967 to ease bearish pressure and above
Gbp0.9048 to end bearish hopes and shift focus to Gbp0.9107-0.9202.

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