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Consolidation phase: *RES 3:....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Consolidation phase:
*RES 3: 0.9415 High Oct 2016
*RES 2: 0.9400 Psychological level
*RES 1: 0.9325 High Aug 12
*PRICE: 0.9236 @ 15:09 GMT Aug 14
*SUP 1: 0.9232/89 200-hma / Low Aug 7
*SUP 2: 0.9126 Low Aug 2
*SUP 3: 0.9089 Low Jul 31
EURGBP remains in a consolidation phase as bulls take a pause. The underlying
bullish tone holds firm though with technical indicators continuing to display
outright bullish conditions. The focus is on the Oct 2016 high of 0.9415.
Clearance of this level would open the 0.9500 psychological level. On the
downside, initial support lies at 0.9232, the 200-hma. A clear break of the
average would signal scope for a deeper correction, perhaps down to 0.9051, the
former bull trigger.

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