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EURO-STERLING TECHS
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: 0.8969 2.0% 10-dma envelope
*RES 1: 0.8933 High May 15
*PRICE: 0.8923 @ 16:52 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 took out 0.8865 resistance, the Apr 7 high this week to shift the outlook
positive and expand the recent range. 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 be highlighted by a close above the 50-dma and the
23.6% retracement of the March-April decline. This would open 0.8969, the 2.0%
10-dma envelope and 0.8972, Mar 31 high. 0.8759 is support.

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