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Bearish Focus *RES 4: 0.8605....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Bearish Focus
*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: 0.8501 High Jan 22
*PRICE: 0.8457 @ 10:30 GMT Jan 30
*SUP 1: 0.8389 Low Jan 24
*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 is lower this morning although a more consolidative intraday tone
dominates for now. The outlook however remains bearish. 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, this highlights a
bearish theme. Attention is on 0.8356, Dec 17 low and the key support at 0.8277,
Dec 13 low. Initial resistance is at 0.8501.

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