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Bearish outlook intact: *RES....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Bearish outlook intact:
*RES 4: 0.9094 1.0% 10-dma envelope
*RES 3: 0.9083/86 Trendline resistance drawn off Aug 12 high / High Sep 4
*RES 2: 0.9031 High Sep 5
*RES 1: 0.9015 High Sep 9
*PRICE: 0.8925 @ 15:48 GMT Sep 11
*SUP 1: 0.8905 Low Sep 9
*SUP 2: 0.8892/75 Low Jul 25 / Bear channel base drawn off the Aug 12 high
*SUP 3: 0.8873 Low Jun 20
*SUP 4: 0.8830 Low Jun 6
EURGBP maintains a bearish outlook following the recent spell of lower lows and
lower highs. Furthermore, momentum and moving average studies continue to point
south reinforcing the current bearish theme. The cross is approaching the next
objective at 0.8892, the low of Jul 25. Note that this level lies ahead of
0.8875, the base the bear channel drawn off the Aug 12 high and potentially a
strong support. Initial resistance is at 0.9015 ahead of 0.9031.

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