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Sustained Stg0.8970 Break.......>

EURO-STERLING TECHS
EURO-STERLING TECHS: Sustained Stg0.8970 Break Still Needed To Resume Rally
*RES 4: Stg0.9052 Nov 2 high
*RES 3: Stg0.9028 Nov 9 high, 1% volatility band
*RES 2: Stg0.8994 Jul 21 high
*RES 1: Stg0.8970/76 Jul 25, Jul 31 highs
*PRICE: Stg0.8933 @0935GMT
*SUP 1: Stg0.8891/99 Jul 27, Jul 18 high
*SUP 2: Stg0.8867 Hourly base Jul 20
*SUP 3: Stg0.8828/29 12 week rising suppt line, Jul 19 low
*SUP 4: Stg0.8802 76.4% Fibo of Stg0.8743-Stg0.8994
*COMMENTARY* Tried and failed to establish a break back above Stg0.8970 on
Monday. The rally quickly repelled and sent back into the recent consolidation
range above Stg0.8891-99 support. Can't give up on seeing an eventual upside
break however, all the time this support area survives. Only a loss will dampen
upside potential and suggest scope for a deeper Stg0.8867-Stg0.8828 fall.
Sustained break of Stg0.8970 can lead to a Stg0.9028 rise next. 

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