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Stg0.8810 Proves The Bar To.....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Stg0.8810 Proves The Bar To Further Recovery Prospects
*RES 4: Stg0.8886 61.8% Fibo of Stg0.8968-Stg0.8620
*RES 3: Stg0.8841/42 1% volatility band, May 4 high
*RES 2: Stg0.8809/10 Jun 1, May 8 highs
*RES 1: Stg0.8780/90 Hourly resistance
*PRICE: Stg0.8761 @0907GMT
*SUP 1: Stg0.8724/28 Jun 1 low, initial recovery May 29
*SUP 2: Stg0.8697 May 29 low
*SUP 3: Stg0.8673/81 76.4% Stg0.8620-Stg0.8842, Apr 26 low
*SUP 4: Stg0.8665 1% volatility band
*COMMENTARY* Snakes and ladders last week saw the Stg0.8810-Stg0.8697 range
fully exploited, most latterly failing at Stg0.8809, basically a 76.4% Fibo
retrace of the Stg0.8842-Stg0.8697 fall, seen since the beginning of May. Will
need through here, before the chance of a Stg0.8842 return where the upper 1%
volatility band also resides. Support within the range at Stg08728-Stg0.8724,
this dealt with Friday's setback.

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