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Correction Falters Around.......>

EURO-STERLING TECHS
EURO-STERLING TECHS: Correction Falters Around 61.8% Fibo Level
*RES 4: Stg0.8864/73 1% vol band, 76.4% Stg0.8930-Stg0.8687
*RES 3: Stg0.8846 Jan 19 high
*RES 2: Stg0.8838 Jan 18 high, 61.8% of Stg0.8930-Stg0.8687
*RES 1: Stg0.8815 Hourly resistance
*PRICE: Stg0.8808 @0955GMT
*SUP 1: Stg0.8754 Jan 30 low
*SUP 2: Stg0.8740/45 Congestion area Jan 25-26
*SUP 3: Stg0.8724 Jan 26 low
*SUP 4: Stg0.8687/89 Jan 25, Dec 8 lows, 1% volatility band
*COMMENTARY* The Dec 8 low at Stg0.8689 was squeezed last Thursday, a slightly
lower Stg0.8687 seen, before bouncing again. The recovery gained momentum this
week, the latest rise challenging towards the Jan 18 high and 61.8% Fibo retrace
level at Stg0.8838, before hitting some near term overbought conditions. As a
consequence, support now comes from Stg0.8754-Stg0.8724, this now anticipated to
remain intact, if further gains back up the recent range are to be contemplated.

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