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Bulls Hold Onto Gains *RES 4:...>

EURO-STERLING TECHS
EURO-STERLING TECHS: Bulls Hold Onto Gains
*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: 0.8745 High Mar 3 and intraday high
*PRICE: 0.8727 @ 10:31 GMT Mar 4
*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 remain in the driving seat. Friday's gains resulted in the break of
key resistance at 0.8596, the Jan 14 high. This marked 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 next.
Initial support is seen at 0.8595, Monday's low.

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