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Standard line reinforces........>

EURO-STERLING TECHS
EURO-STERLING TECHS: Standard line reinforces downtrend:
*RES 4: 0.9050/65 T-line resistance drawn off Aug 12 high / 1.0% 10-dma envelope
*RES 3: 0.9031 High Sep 5
*RES 2: 0.9015 High Sep 9
*RES 1: 0.8975 High Sep 13
*PRICE: 0.8863 @ 15:46 GMT Sep 16
*SUP 1: 0.8850 Intraday low
*SUP 2: 0.8842 Bear channel base drawn off the Aug 12 high
*SUP 3: 0.8772 Low May 22
*SUP 4: 0.8725 Low Jun 21
EURGBP sold off sharply Friday extending the current downtrend with the focus on
the 0.8809 Fibonacci retracement next. In candle terms, Friday's pattern is a
standard line, a continuation pattern highlighting the likelihood the cross will
remain soft near-term. Momentum and moving average studies continue to point
south too. On the upside, resistance is located at Friday's 0.8975 high.

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