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Unable As Yet To Challenge......>

EURO-STERLING TECHS
EURO-STERLING TECHS: Unable As Yet To Challenge Stg0.8980-Stg0.8994 Resistance
*RES 4: Stg0.9032 Oct 12 high
*RES 3: Stg0.9014/22 1% volatility band, Oct 20 high
*RES 2: Stg0.8994 Hourly high Oct 20
*RES 1: Stg0.8976/80 Oct 24 high, hourly recovery high Oct 20
*PRICE: Stg0.8933 @0911GMT
*SUP 1: Stg0.8820 Hourly support
*SUP 2: Stg0.8908 Initial recovery high Oct 23, now support
*SUP 3: Stg0.8886/97 Oct 23, Oct 18 lows
*SUP 4: Stg0.8855/56 61.8% Stg0.8746-Stg0.9032, Oct 16 low
*COMMENTARY* Still unable as yet to find the strength for a return to the recent
Stg0.9022-Stg0.9032 highs. The recovery faltered at the earlier Stg0.8976 level
on Tuesday, keeping us also below the upper 1% volatility band at Stg0.9014 by
time today. The subsequent setback is likely to find support from between
Stg0.8920-Stg0.8908. The latter should hold now, or near term risk reverts to
the downside and then Stg0.8886-Stg0.8855 protect Stg0.8831.

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