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Still Stuck In A Range *RES.....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Still Stuck In A Range
*RES 4: 0.8787 Low Sep 20 and former breakout point
*RES 3: 0.8751 High Oct 15
*RES 2: 0.8717 High Oct 16 and key near-term resistance
*RES 1: 0.8676 High Oct 24
*PRICE: 0.8597 @ 18:15 GMT Nov 5
*SUP 1: 0.8576 Low Oct 17 and bear trigger
*SUP 2: 0.8558 Low May 8
*SUP 3: 0.8491 Low May 6 and major support
*SUP 4: 0.8482 1.000 projection of Aug 12 - Sep 20 decline from Oct 10 high
EURGBP saw some life today, selling off over today's session. The cross though
remains within its range consolidating. This consolidation is still seen as a
bear flag, a continuation pattern that if correct, highlights the likelihood the
pair will depreciate further near-term. We continue to monitor candle patterns
on Oct 16/17, two long-legged doji patterns. They are potentially basing signals
however, a breach of 0.8717 is needed to reinforce this. Bearish still.

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