Bear Trigger Probed *RES 4:.....>

EURO-STERLING TECHS: Bear Trigger Probed

*RES 4: 0.8988 High Mar 30

*RES 3: 0.8911 High Apr 1

*RES 2: 0.8864/65 High Apr 21 / High Apr 7 and key near-term resistance

*RES 1: 0.8781 High Feb 23

*PRICE: 0.8713 @ 05:37 BST May 1

*SUP 1: 0.8671 Low Apr 30

*SUP 2: 0.8657 Low Mar 9

*SUP 3: 0.8621 Low Mar 5 and a key support

*SUP 4: 0.8570 76.6% retracement of the Feb - Mar rally

EURGBP inched through key support at 0.8682, Apr 14 low, Thursday. However the

cross has failed to follow through on the break. For the bearish theme to be

cemented, a close below 0.8682 and, break of yesterday's 0.8671 low is required.

This would confirm a resumption of the current downtrend and open 0.8621, Mar 5

low. On the upside, key resistance remains 0.8865, Apr 7 high which represents a

short-term hurdle for bulls. Initial resistance is at 0.8781.