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Stg0.8830-Stg0.8840 The.........>

EURO-STERLING TECHS
EURO-STERLING TECHS: Stg0.8830-Stg0.8840 The Current Bar To Any Recovery
*RES 4: Stg0.8902 Oct 27 high
*RES 3: Stg0.8880 Oct 25 low, now resistance
*RES 2: Stg0.8851/54 Oct 26 low, hourly high Oct 27
*RES 1: Stg0.8830/40 Hourly resistance
*PRICE: Stg0.8804 @1030GMT
*SUP 1: Stg0.8793/00 Oct 30 low, 1% volatility band
*SUP 2: Stg0.8746 Sep 27 low
*SUP 3: Stg0.8737 1.618x Stg0.9032-Stg0.8856 from Stg0.9022
*SUP 4: Stg0.8714 2% volatility band
*COMMENTARY* The pullback has continued this week, most latterly falling below
the 76.4% Fibo retrace level at Stg0.8813 and also slightly beneath the lower 1%
volatility band at Stg0.8800 by time today. Is however close to oversold on an
hourly basis and the Stg0.8793 low currently protects against a further fall
towards Stg0.8746-Stg0.8737 next. In the interim, resistance from Stg0.8830-40
is the bar to any near term recovery.

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