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Bullish Extension *RES 4:.......>

EURO-STERLING TECHS
EURO-STERLING TECHS: Bullish Extension
*RES 4: 0.9086 High Sep 4
*RES 3: 0.9020 High Oct 10
*RES 2: 0.9000 Round number resistance
*RES 1: 0.8914 High Mar 12
*PRICE: 0.8875 @ 17:30 GMT Mar 12
*SUP 1: 0.8774 Low Mar 12
*SUP 2: 0.8681 Low Mar 10
*SUP 3: 0.8621 Low Mar 5 and key support
*SUP 4: 0.8595 Low Mar 2, also a key support
EURGBP registered a new high print at 0.8914 Thursday. Gains in early March
resulted in the break of 0.8596, Jan 14 high confirming an important swing in
price that signalled a potential M/T reversal. The cross last week held above
this breakout level, a positive development and the subsequent rally confirms a
bullish theme. Trend conditions are in overbought territory but this is not
proving to be a threat to bulls just yet. The focus is on the 0.9020 next.

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