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Free AccessRejected Above 55-DMA Again.....>
EURO-STERLING TECHS: Rejected Above 55-DMA Again
*RES 4: Gbp0.9033 High Oct 12
*RES 3: Gbp0.9005 55-DMA
*RES 2: Gbp0.8967 Hourly support Oct 19a now resistance
*RES 1: Gbp0.8940 Hourly resistance Oct 20
*PRICE: Gbp0.8918 @ 0930GMT
*SUP 1: Gbp0.8888 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 Gbp0.8854-88 where the
bull channel base and 21-DMA are situated. Bears now need a close below
Gbp0.8856 to shift focus back to Gbp0.8726-47 where monthly lows, the 55-WMA &
200-DMA are noted. Bulls need a close above Gbp0.8967 to ears bearish pressure
and above Gbp0.9048 to end bearish hopes and shift focus to Gbp0.9107-0.9202.
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Why MNI
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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.