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EURO-STERLING TECHS: Swing Target At Stg0.9091 Halts Rally
*RES 4: Stg0.9179 2% volatility band
*RES 3: Stg0.9143 76.4% of Stg0.9402-Stg0.8305, Oct 10 high
*RES 2: Stg0.9091 1.618 swing of Stg0.9055-Stg0.8996
*RES 1: Stg0.9060/70 Hourly resistance
*PRICE: Stg0.9012 @1031GMT
*SUP 1: Stg0.8989/96 Aug 2 high, Aug 4 low
*SUP 2: Stg0.8969 Jul 28 high, now support
*SUP 3: Stg0.8935/40 Congestion lows Jul 28-Aug 2
*SUP 4: Stg0.8909 1% volatility band
*COMMENTARY* The brief move above the upper 1% volatility band on Tuesday was
rewarded with an attempt on the next upside objective, the swing target at
Stg0.9091. Overbought in the near term as a result. The subsequent loss of
Stg0.9040 will see pressure on hourly support from Stg0.9010 and then
Stg0.8989-Stg0.8996. This area should now stay intact, if a deeper correction of
gains from Stg0.8891 is to be avoided. Resistance now from Stg0.9060-70.