Begins Correction Of Recent.....>

EURO-STERLING TECHS: Begins Correction Of Recent Losses From Stg0.9013

*RES 4: Stg0.8974 76.4% Fibo of Stg0.9013-Stg0.8842

*RES 3: Stg0.8949/54 61.8% Fibo, Nov 17 high

*RES 2: Stg0.8928/35 50% Fibo, Hourly congestion Nov 16-17

*RES 1: Stg0.8908/12 38.2% Stg0.9013-Stg0.8842, i'day high

*PRICE: Stg0.8904 @1625GMT

*SUP 1: Stg0.8865/75 Hourly support

*SUP 2: Stg0.8854 Nov 22 low

*SUP 3: Stg0.8837/40 Nov 13 low, 61.8% Stg0.8733-Stg0.9013

*SUP 4: Stg0.8805/11 1% volatility band, Nov 10 low

*COMMENTARY* After finding a base above Stg0.8840-Stg0.8837 support earlier in

the week, has begun a correction of the losses sustained since the mid month

high at Stg0.9013. Today's rise through Stg0.8885 resistance, has since seen a

challenge to the initial Fibo level at Stg0.8908, a high of Stg0.8912 so far.

Will need to maintain this break, if Stg0.8928-St0.8974 gains are to follow,

else look to Stg0.8875-Stg0.8854 for support.