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Pullback From Recent Range......>

EURO-STERLING TECHS
EURO-STERLING TECHS: Pullback From Recent Range Top Tests Stg0.8805 Support
*RES 4: Stg0.8920/26 Feb 14, Jan 12 highs
*RES 3: Stg0.8890 Feb 16 high
*RES 2: Stg0.8870/75 Feb 19 high, Feb 14 low
*RES 1: Stg0.8858 Feb 21 high
*PRICE: Stg0.8850 @1025GMT
*SUP 1: Stg0.8805 61.8% Stg0.8732-Stg0.8920, Feb 20/21 lows
*SUP 2: Stg0.8776/79 76.4% of Stg0.8732-Stg0.8920, Feb 9 low
*SUP 3: Stg0.8767 1% volatility band
*SUP 4: Stg0.8732/42 Feb 8 low, 76.4% of Stg0.8687-Stg0.8920
*COMMENTARY* Continued to lose ground on Wednesday following the failure to deal
with range top resistance at Stg0.8926 last week. The loss of
Stg0.8843-Stg0.8841 support sees the first of two dual Fibo support levels at
Stg0.8805 as the next potential target. Any lower and the second dual support
from Stg0.8776 then comes into play. Meanwhile, Stg0.8858-now becomes
resistance, Stg0.8870-Stg0.8875 currently more important above.

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