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Steep Slide Extends: *RES 4:....>

EURO-STERLING TECHS: Steep Slide Extends:
*RES 4: 0.9020 High Oct 10
*RES 3: 0.8869 High Oct 11
*RES 2: 0.8787 Low Sep 20 and former breakout point
*RES 1: 0.8751 High Oct 15
*PRICE: 0.8667 @ 09:35 GMT Oct 16
*SUP 1: 0.8626 Low Oct 15
*SUP 2: 0.8600 Round number support
*SUP 3: 0.8592 3.0% 10-dma Envelope
*SUP 4: 0.8558 Low May 8
The bearish outlook in EURGBP solidified Tuesday as the sell-off extended. With
momentum studies still in a clear bear mode, further downside pressure is
likely. Attention turns to the 0.8600 handle where a break would open the 0.8491
low from May 6, a major support. Note, the current slide is extremely steep and
in technical terms this warns the risk of a correction also remains high. The
first key resistance to monitor is 0.8787, Sep 20 low.

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