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Bears Need Close Below..........>

EURO-STERLING TECHS
EURO-STERLING TECHS: Bears Need Close Below Gbp0.8773
*RES 4: Gbp0.8922 Low Nov 27 now resistance 
*RES 3: Gbp0.8907 Daily Bear channel top 
*RES 2: Gbp0.8871 55-DMA 
*RES 1: Gbp0.8852 21-DMA
*PRICE: Gbp0.8822 @ 0530GMT
*SUP 1: Gbp0.8789 Low Dec 12 
*SUP 2: Gbp0.8773 Hourly support Dec 11a 
*SUP 3: Gbp0.8736 Hourly resistance Dec 8 now support 
*SUP 4: Gbp0.8690 Low Dec 8
*COMMENTARY: The break of the Gbp0.8717 support Friday lacked follow through
with the pair bouncing from below the 55-WMA (Gbp0.8734). The close above the
200-DMA Monday eased bearish pressure and sees focus back on the 55-DMA. Bulls
still need a close above the 55-DMA to shift focus back to Gbp0.8907-81 where
the bear channel top and 100-DMA are noted. Bears now look for a close below
Gbp0.8773 to return pressure to the Gbp0.8690 6mth low from last week.