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Rejected Above 55-DMA *RES 4:...>

EURO-STERLING TECHS
EURO-STERLING TECHS: Rejected Above 55-DMA
*RES 4: Gbp0.9032 High Oct 12
*RES 3: Gbp0.9012 55-DMA
*RES 2: Gbp0.8987 Hourly support Oct 12 now resistance
*RES 1: Gbp0.8948 Alternating hourly support/resistance
*PRICE: Gbp0.8924 @ 0430GMT
*SUP 1: Gbp0.8906 Low Oct 9 
*SUP 2: Gbp0.8886 High Sept 22 now support
*SUP 3: Gbp0.8860 21-DMA 
*SUP 4: Gbp0.8801 Low Oct 2
*COMMENTARY: The excursion into the Gbp0.8992-0.9045 resistance region lacked
follow through with the pair rejected ahead of the key Gbp0.9048 resistance. The
sell-off leaves the pair looking heavy and focus back on layers of support
Gbp0.8860-0.8906. Bears continue to look for a close below the 21-DMA to end
bullish hopes and target Gbp0.8717-57. Bulls now need a close above Gbp0.8948 to
gain breathing room and above Gbp0.8987 to return focus to Gbp0.9012-48.

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