Continuation Bearish Pattern....>

EURO-STERLING TECHS: Continuation Bearish Pattern

*RES 4: 0.8869 High Oct 11

*RES 3: 0.8787 Low Sep 20 and former breakout point

*RES 2: 0.8751 High Oct 15

*RES 1: 0.8717 High Oct 16 and key near-term resistance

*PRICE: 0.8631 @ 05:20 GMT Oct 29

*SUP 1: 0.8576 Low Oct 17 and bear trigger

*SUP 2: 0.8558 Low May 8

*SUP 3: 0.8491 Low May 6 and major support

*SUP 4: 0.8482 1.000 projection of Aug 12 - Sep 20 decline from Oct 10 high

EURGBP remains broadly flat for now. The recent consolidation appears to be a

bear flag / pennant formation, a continuation pattern that if correct,

highlights the likelihood the trend will extend lower near-term. Note, we

continue to monitor the candle patterns on Oct 16/17. On both these days,

long-legged doji formations unfolded. They are potentially an early sign the

cross is basing however, a breach of 0.8717 is required to reinforce this.