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Bearish Continuation Patterns...>

EURO-STERLING TECHS
EURO-STERLING TECHS: Bearish Continuation Patterns
*RES 4: 0.8869 High Oct 11
*RES 3: 0.8787 Low Sep 20 and former breakout point
*RES 2: 0.8751 High Oct 15
*RES 1: 0.8717 High Oct 16 and key near-term resistance
*PRICE: 0.8636 @ 05:36 GMT Oct 30
*SUP 1: 0.8576 Low Oct 17 and bear trigger
*SUP 2: 0.8558 Low May 8
*SUP 3: 0.8491 Low May 6 and major support
*SUP 4: 0.8482 1.000 projection of Aug 12 - Sep 20 decline from Oct 10 high
Still no change in EURGBP as the cross trades broadly flat. This consolidation
appears to be a bear flag / pennant formation. This is a continuation pattern
that if correct, highlights the likelihood the pair will depreciate further
near-term. Note, we are still monitoring the candle patterns on Oct 16/17, two
long-legged doji formations. They are potentially an early sign the cross is
basing however, a breach of 0.8717 is required to reinforce this. Bearish still.