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EURO-STERLING TECHS: Pullback Continues, Stg0.8866-Stg0.8850 Now Next Support
*RES 4: Stg0.8968/80 Mar 7 high, 3 month bull channel, 1% vol
*RES 3: Stg0.8958 Jul 20 high
*RES 2: Stg0.8936 Jul 23 high
*RES 1: Stg0.8911/19 Jul 23, Jul 20 lows, now resistance
*PRICE: Stg0.8880 @1551GMT
*SUP 1: Stg0.8865/66 Intraday low, Jul 13 high
*SUP 2: Stg0.8850 Congestion area Jun 28-Jul 17
*SUP 3: Stg0.8816 Jul 16 low
*SUP 4: Stg0.8802 1% volatility band
*COMMENTARY* Last week's break above the 9 month bear channel top at Stg0.8908
has seen a rally towards next key resistance from the Stg0.8968-Stg0.8975
region. This the Mar 7 high, the current level of the 3 month bull channel top
projection and the upper 1% volatility band. Failure to break here has seen a
pullback through Stg0.8999-Stg0.8890 support. Loss cautions and opens up deeper
corrective potential, with Stg0.8866-Stg0.8850 now in the frame.