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: 0.8817 50-dma

*RES 1: 0.8864/65 High Apr 21 / High Apr 7 and key near-term resistance

*PRICE: 0.8786 @ 16:34 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 and firmed well Friday. For the bearish theme

to be cemented, a close below 0.8682 and, break of the Thursday 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.