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Probing the 200-dma: *RES 3:....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Probing the 200-dma:
*RES 3: 0.9015/16 High Sep 9 / Channel resistance drawn off Aug 12 high
*RES 2: 0.8975 High Sep 13
*RES 1: 0.8902 High Sep 16
*PRICE: 0.8852 @ 15:24 GMT Sep 19
*SUP 1: 0.8820 Low Sep 18
*SUP 2: 0.8810/09 Bear channel base / 61.8% of May 6 - Aug 12 rally
*SUP 3: 0.8772 Low May 22
EURGBP pushed lower again Wednesday with prices probing the 200-dma. The cross
bounced slightly Thursday, however, keeping the technical outlook broadly
unchanged. Bears eye the 0.8809, 61.8% Fibonacci retracement for direction. In
candle terms, the Sep 13 pattern is a standard line, a continuation pattern
highlighting the likelihood the cross will remain soft near-term. Momentum and
moving average studies also continue to point south. On the upside, resistance
is located at 0.8902, Monday's high ahead of Friday's 0.8975 high.

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