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Bears Need Close Below 21-DMA...>

EURO-STERLING TECHS
EURO-STERLING TECHS: Bears Need Close Below 21-DMA
*RES 4: Gbp0.8874 High Mar 15 
*RES 3: Gbp0.8841 Low Mar 14 now resistance 
*RES 2: Gbp0.8812 100-DMA 
*RES 1: Gbp0.8797 High Mar 27
*PRICE: Gbp0.8765 @ 0430GMT
*SUP 1: Gbp0.8749 High Apr 6 now support 
*SUP 2: Gbp0.8724 21-DMA 
*SUP 3: Gbp0.8686 Low Apr 19 
*SUP 4: Gbp0.8664 Hourly breakout level Apr 18
*COMMENTARY: O/S daily studies and Bolli base (Gbp0.8642) limiting follow
through impacted with an aggressive correction that sees focus return to
Gbp0.8797-0.8812 where 55 & 100-DMAs are located. A close above the 100-DMA is
needed to hint at a move back to Gbp0.8874-0.8904 with the 200-DMA at Gbp0.8884.
Bears now look for a close below the 21-DMA to ease bullish pressure and below
Gbp0.8664 to return focus to Gbp0.8380-0.8515.

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