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Bearish Pressure Intact: *RES...>

EURO-STERLING TECHS
EURO-STERLING TECHS: Bearish Pressure Intact:
*RES 4: 0.9020 High Oct 10
*RES 3: 0.8869 High Oct 11
*RES 2: 0.8787 Low Sep 20 and former breakout point
*RES 1: 0.8751 High Oct 15
*PRICE: 0.8640 @ 05:37 GMT Oct 17
*SUP 1: 0.8600/98 Round number support / Low Oct 16
*SUP 2: 0.8561 3.0% 10-dma Envelope
*SUP 3: 0.8558 Low May 8
*SUP 4: 0.8491 Low May 6
The bearish outlook in EURGBP remains intact. With momentum studies still in a
clear bear mode, further downside pressure is likely. The 0.8600 support has
broadly held for now however, with further downside expected, a break would open
the 0.8491 low from May 6, a major support. Note, the current slide is extremely
steep and in technical terms this warns the risk of a correction also remains
high. The first key resistance to monitor is 0.8751, Oct 15 high.

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