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Rally Opens Higher..............>

EURO-STERLING TECHS
EURO-STERLING TECHS: Rally Opens Higher Stg0.8805-Stg0.8816 Corrective Potential
*RES 4: Stg0.8833/38 Jan 30, 18 highs, 61.8% 0.8930-0.8687
*RES 3: Stg0.8816 Jan 29, Jan 31 highs
*RES 2: Stg0.8805 76.4% Fibo of Stg0.8833-Stg0.8716
*RES 1: Stg0.8799 Intraday high
*PRICE: Stg0.8794 @1520GMT
*SUP 1: Stg0.8757/67 Intraday low, hourly support
*SUP 2: Stg0.8738 Jan 31 low
*SUP 3: Stg0.8716 Feb 1 low
*SUP 4: Stg0.8687/89 Jan 25, Dec 8 lows
*COMMENTARY* The recovery to Stg0.8833 earlier in the week, fell short of higher
resistance from Stg0.8838. The latter the Jan 18 high and a 61.8% Fibo retrace
of the previous Stg0.8930-Stg0.8687 fall. The subsequent fall was relatively
swift resulting in a challenge and slight break of pivotal 76.4% Fibo retrace at
Stg0.8721. Unable to sustain this as yet, the break back above Stg0.8760-65
resistance is encouraging, Stg0.8805-Stg0.8816 now resistance.

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