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Bullish Swing Still In Play *RES 4:...>

EURO-STERLING
EURO-STERLING: Bullish Swing Still In Play
*RES 4: 0.8869 High Oct 11
*RES 3: 0.8801 50.0% retracement of the Aug - Dec downleg
*RES 2: 0.8787 Low Sep 20
*RES 1: 0.8743 Intraday high
*PRICE: 0.8722 @ 05:51 GMT Mar 3
*SUP 1: 0.8595 Low Mar 2
*SUP 2: 0.8522 Low Feb 28
*SUP 3: 0.8430 Low Feb 27
*SUP 4: 0.8339 Low Feb 25
EURGBP bulls are well and truly in the driving seat. Friday's gains resulted in
the break of key resistance at 0.8596, the Jan 14 high. This marks an important
swing in price action and also signals a potential significant medium-term
reversal. Momentum studies are pointing north reinforcing current directional
conditions with scope seen for a climb towards 0.8801, a Fibonacci retracement.
Initial support is seen at 0.8595, yesterday's low.

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