Bearish Outlook *RES 4:.........>

EURO-STERLING TECHS: Bearish Outlook

*RES 4: 0.9184 61.8% Fibonacci retracement of the Mar - Apr decline

*RES 3: 0.9176 High Jun 29 and the bull trigger

*RES 2: 0.9068 High Jul 6

*RES 1: 0.9011 High Jul 8

*PRICE: 0.8977 @ 10:18 BST Jul 13

*SUP 1: 0.8938 Low Jul 10

*SUP 2: 0.8912 Low Jun 16

*SUP 3: 0.8883 Low Jun 10

*SUP 4: 0.8964 Low Jun 9 and the key support

EURGBP maintains a bearish tone following last week's move lower and the bearish

weekly close. A bearish theme follows recent price developments that has seen

the cross probe the 0.8944 50-dma. Furthermore, price has also traded through a

trendline support drawn off the May 11 low. This opens 0.8912, the Jun 16 low,

as the initial downside target. Firm resistance has been defined at 0.9068, Jul

6 high.