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Stg0.8800-Stg0.8810 The Near....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Stg0.8800-Stg0.8810 The Near Term Bar To Recovery Hopes
*RES 4: Stg0.8886 Mar 13 high
*RES 3: Stg0.8850 Mar 12 low, now resistance
*RES 2: Stg0.8825 Mar 15 low, now resistance
*RES 1: Stg0.8800/05 Hourly resistance
*PRICE: Stg0.8777 @0922GMT
*SUP 1: Stg0.8745 Mar 19 low
*SUP 2: Stg0.8732 Feb 8 low
*SUP 3: Stg0.8717 Feb 1 low
*SUP 4: Stg0.8676/87 2% volatility band, Jan 25 low
*COMMENTARY* The fallout from the failure to deal with the top of the congested
trading area that has prevailed for the last 6 months, continued with a
vengeance Monday. The loss of Stg0.8815 was followed by a further move below
Stg0.8779-Stg0.8771. This now leaves the Feb 8 low at Stg0.8732 and the Feb 1
low at Stg0.8717 protecting the range base at Stg0.8687. In the meantime,
resistance from Stg0.8800-Stg0.8810 keeps a lid on near term recovery potential.

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