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Rejected Below 55-WMA *RES 4:...>

EURO-STERLING TECHS
EURO-STERLING TECHS: Rejected Below 55-WMA
*RES 4: Gbp0.8922 Low Nov 27 now resistance 
*RES 3: Gbp0.8912 Daily Bear channel top 
*RES 2: Gbp0.8870 55-DMA 
*RES 1: Gbp0.8859 21-DMA
*PRICE: Gbp0.8820 @ 0530GMT
*SUP 1: Gbp0.8802 200-DMA 
*SUP 2: Gbp0.8773 Hourly support Dec 11a 
*SUP 3: Gbp0.8736 Hourly resistance Dec 8 now support 
*SUP 4: Gbp0.8690 Low Dec 8
*COMMENTARY: The break of the Gbp0.8717 support Friday lacked follow through
with the pair bouncing from below the 55-WMA (Gbp0.8734). The close above the
200-DMA Monday eased bearish pressure and sees focus back on the 55-DMA today.
Bulls now need a close above the 55-DMA to shift focus back to Gbp0.8912-81
where the bear channel top and 100-DMA are noted. Bears now look for a close
below Gbp0.8773 to return pressure to the Gbp0.8690 6mth low from last week.

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