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Stg0.8809 The Next Corrective...>

EURO-STERLING TECHS
EURO-STERLING TECHS: Stg0.8809 The Next Corrective Barrier To Surmount
*RES 4: Stg0.8873 76.4% of Stg0.8930-Stg0.8687
*RES 3: Stg0.8846 Jan 19 high
*RES 2: Stg0.8838 Jan 18 high, 61.8% of Stg0.8930-Stg0.8687
*RES 1: Stg0.8809 Jan 9 low, 50% of Stg0.8930-Stg0.8687
*PRICE: Stg0.8802 @1110GMT
*SUP 1: Stg0.8745/55 Hourly support
*SUP 2: Stg0.8724 Jan 26 low
*SUP 3: Stg0.8711 1% volatility band
*SUP 4: Stg0.8687/89 Jan 25, Dec 8 lows
*COMMENTARY* The Dec 8 low at Stg0.8689 was squeezed on Thursday, a slightly
lower Stg0.8687 seen, before bouncing again. This now allows some interim
Stg0.8755-Stg0.8711 support above. The sustained move back through
Stg0.8770-Stg0.8775 is encouraging and suggests some correction of losses from
the month's earlier Stg0.8925-Stg0.8930 highs, with the Jan 9 low and 50% Fibo
retrace level at Stg0.8809 the next barrier to surmount.

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