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Stg0.8900 Cap Sees Pressure.....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Stg0.8900 Cap Sees Pressure Return To The Downside
*RES 4: Stg0.8977/82 38.2% Stg0.9306-Stg0.8774, Sep 12 low
*RES 3: Stg0.8900/08 23.6% Fibo retrace, recovery high Sep 14
*RES 2: Stg0.8886 Sep 22 high
*RES 1: Stg0.8845/55 Hourly resistance
*PRICE: Stg0.8808 @1622GMT
*SUP 1: Stg0.8774 Sep 15, intraday lows
*SUP 2: Stg0.8743 Jul 14 low
*SUP 3: Stg0.8692 61.8% Fibo of Stg0.8313-Stg0.9306
*SUP 4: Stg0.8687 2% volatility band
*COMMENTARY* Unable to break back above the key Stg0.8900-Stg0.8908 resistance
last week. Through here needed before the correction of recent losses from
Stg0.9306 can get a real kick start. As a result, pressure has again returned to
the downside and on Stg0.8774 support. The latter seen as the protection to the
still important Stg0.8743 level and the added potential for a further Stg0.8692
fall. In the meantime, Stg0.8845-55 provides near term resistance.

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