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50-dma In View *RES 4: 0.8911...>

EURO-STERLING TECHS
EURO-STERLING TECHS: 50-dma In View
*RES 4: 0.8911 High Apr 1
*RES 3: 0.8865 Apr 7 high and key resistance
*RES 2: 0.8845 50-dma
*RES 1: 0.8830 High May 12
*PRICE: 0.8774 @ 10:30 BST May 12
*SUP 1: 0.8691 Low May 01 / 05
*SUP 2: 0.8671 Low Apr 30 and bear trigger
*SUP 3: 0.8657 Low Mar 9
*SUP 4: 0.8621 Low Mar 5 and a key support
The cross struck new multi-week highs Tuesday having topped 0.8807 and 0.8814.
This narrows the gap with next resistance at the 50-dma of 0.8845. The range
parameters remain defined by 0.8865, Apr 7 high at the top and 0.8671, Mar 30
low on the downside. A clear break of 0.8671 is required to trigger a fresh
bearish move. This would confirm a resumption of the downtrend and open 0.8621,
Mar 5 low. Clearance of resistance at 0.8865 would instead signal a reversal.

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