Bulls Conditions Intact *RES....>

EURO-STERLING TECHS: Bulls Conditions Intact

*RES 4: 0.9086 50.0% Fibonacci retracement of the Mar - Apr decline

*RES 3: 0.9057 Double bottom projection

*RES 2: 0.8988 38.2% Fibonacci retracement of the Mar - Apr decline

*RES 1: 0.8960 High Mar 18

*PRICE: 0.8922 @ 05:51 BST May 20

*SUP 1: 0.8878 High May 13

*SUP 2: 0.8826 Low May 14 and key near-term support

*SUP 3: 0.8759 Low May 12

*SUP 4: 0.8691 Low May 01 / 05

EURGBP is unchanged and remains bullish following Friday's break of 0.8865, Apr

7 high. This confirmed a clear breakout of the recent range. Furthermore, from a

pattern perspective the move through 0.8864, Apr 21 high confirmed a double

bottom formation and a reversal of the decline since Mar 19. Attention is on

0.8988, 38.2% retracement of the March-April decline and potentially 0.9086

further out, the 61.8% retracement. Support lies at 0.8826, May 14 low.