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Support Above Stg0.8899 Still...>

EURO-STERLING TECHS
EURO-STERLING TECHS: Support Above Stg0.8899 Still Keeps Upside Bias Intact
*RES 4: Stg0.9052 Nov 2 high
*RES 3: Stg0.9028 Nov 9 high
*RES 2: Stg0.8995 Jul 21 high
*RES 1: Stg0.8960 Jul 25 high
*PRICE: Stg0.8920 @0931GMT
*SUP 1: Stg0.8899/04 Jul 18 high, Jul 26 low
*SUP 2: Stg0.8867 Hourly base Jul 20
*SUP 3: Stg0.8829 Jul 19 low
*SUP 4: Stg0.8805 1% vol band, 12 week rising suppt line
*COMMENTARY* Still in corrective mode after last week's rally to Stg0.8995, took
us above the 61.8% Fibo retrace level at Stg0.8983. This of the previous
Stg0.9402-Stg0.8305 fall seen between Oct-Dec last year. Now looking at support
from between yesterday's Stg0.8904 low and then last Tuesday's Stg0.8899 high to
hold, if the near term bias is to remain for higher. In this respect, back above
Stg0.8960 would now assist, Stg0.9028-Stg0.9052 the next attractions higher.

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