Bullish Breakout *RES 4:........>

EURO-STERLING TECHS: Bullish Breakout

*RES 4: 0.8988 38.2% Fib retracement of March-April decline

*RES 3: 0.8972 High Mar 31

*RES 2: 0.8911 High Apr 1

*RES 1: 0.8878 High May 13

*PRICE: 0.8864 @ 10:30 BST May 15

*SUP 1: 0.8759 Low May 12

*SUP 2: 0.8691 Low May 01 / 05

*SUP 3: 0.8671 Low Apr 30 and bear trigger

*SUP 4: 0.8657 Low Mar 9

EURGBP this week probed the 0.8865 resistance, Apr 7 high and the top of the

range the cross has been trading within since early April. Continued follow

through would confirm a range breakout and also a likely reversal of the decline

since Mar 19. Note too that a clear break would also highlight a move above the

50-dma and the 23.6% retracement of the March-April decline. This would open

0.8911, Apr 1 high and 0.8972, Mar 31 high. 0.8759 is support.