Bearish Extension Likely *RES...>

EURO-STERLING TECHS: Bearish Extension Likely

*RES 4: 0.8997 Low Mar 20 and former breakout level

*RES 3: 0.8911 High Apr 1

*RES 2: 0.8865 High Apr 7 and key near-term resistance

*RES 1: 0.8796 High Apr 13

*PRICE: 0.8718 @ 05:58 BST Apr 16

*SUP 1: 0.8682 Low Apr 14

*SUP 2: 0.8657 Low Mar 9

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

*SUP 4: 0.870 76.4% retracement of the Fen 18 - Mar 19 rally

EURGBP maintains a bearish theme, reinforced Monday following the breach of

0.8725, Apr 9 low. The move lower also confirmed a clear break of the key 0.8748

Fibonacci retracement, 61.8% of the Feb 18 - Mar 19 rally. With the downtrend

that started off the Mar 19 high intact, the focus shifts to an objective at

0.8621 next, Mar 5 low. Key resistance has been defined at 0.8865, Apr 7 high.

Initial resistance is at 0.8796, high Apr 13.