Set for Another Close Below.....>

EURO-STERLING TECHS: Set for Another Close Below the 50% Fibo

After closing below 0.8860 Thursday, it appears as though we will close at

similar levels on Friday (the 50% retracement from 0.8621-0.9099 for the first

time since the initial move higher on the back of the initial Brexit deal

announcement). This level is also back below the down trendline from the August

highs. To maintain the move lower, we need to break below the 200/50dmas at

0.8835/31. A close below here would target the 0.8700 level, ahead of the Nov 13

low at 0.8656. To move the outlook into more neutral territory, we need to close

back above the down trendline and 100-dma. The 38.2% retracement of

0.8621-0.9099 at 0.8916 will provide resistance above here.