Back to Where We Started The....>

EURO-STERLING TECHS: Back to Where We Started The Week And Stg0.8794-Stg0.8798 

*RES 4: Stg0.8851 Equality rise from 0.8681 to 0.8620-0.8790

*RES 3: Stg0.8835 61.8% Fibo of Stg0.8968-Stg0.8620

*RES 2: Stg0.8810 1% volatility band 

*RES 1: Stg0.8794/98 50% of Stg0.8968-Stg0.8620, Mar 27 high

*PRICE: Stg0.8770 @1430GMT

*SUP 1: Stg0.8735/45 Hourly support

*SUP 2: Stg0.8708 Initial recovery high Apr 26, now support

*SUP 3: Stg0.8681 Apr 26 low

*SUP 4: Stg0.8661 Apr 17 high, now support

*COMMENTARY* Thursday lost Stg0.8725-Stg0.8706 support, a low of Stg0.8681 so

far, as we handed back some of the recent gains from the base of the 6 month

bear channel at $0.8620. Oversold in the near term and with the return above

Stg0.8765  we are back to looking at previously troublesome Stg0.8794-Stg0.8798

and the upper 1% volatility band at Stg0.8810. Will need to escape the latter,

if a further foray toward the top of the channel is to follow.