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Bearish Focus Remains Intact....>

EURO-STERLING TECHS: Bearish Focus Remains Intact
*RES 4: 0.8605 High Nov 22
*RES 3: 0.8596 High Jan 14 and bull trigger
*RES 2: 0.8554 High Jan 20
*RES 1: 0.8488 High Jan 30
*PRICE: 0.8400 @ 16:55 GMT Jan 31
*SUP 1: 0.8387 Intraday low
*SUP 2: 0.8356 Low Dec 17
*SUP 3: 0.8352 76.4% retracement of the Dec 13 - Jan 14 rally
*SUP 4: 0.8277 Low Dec 13 and key support
EURGBP traded lower again this morning and maintains a bearish outlook. Key
support at 0.8452, Dec 31 low was breached last week confirming a range
breakout. The cross probed 61.8% of the Dec - Jan rally at 0.8399 on Jan 24.
Together, these highlight a bearish theme. Note that 0.8389 has been probed
today, a clear break would reinforce current bearish conditions. Attention is on
0.8356, Dec 17 low and 0.8277, Dec 13 low. Resistance is at 0.8488.

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