Door open for further losses:...>

EURO-STERLING TECHS: Door open for further losses:

*RES 3: 0.9143 1.0% 10-dma envelope

*RES 2: 0.9099 Former trendline support-now-resistance drawn off the May 6 low

*RES 1: 0.9086 High Sep 4

*PRICE: 0.8956 @ 15:36 GMT Sep 5

*SUP 1: 0.8950 Intraday Low

*SUP 2: 0.8946 Low Jul 26

*SUP 3: 0.8908/8892 50% retrace of May 6 - Aug 12 rally / Low Jul 25

EURGBP selling pressure carried through well into the Thursday session,

confirming the recent bearish reversal and opening another leg lower. This

further confirmed a clear break of trendline support drawn off the May 6 low as

well as confirming a bear flag formation. The cross now has the legs for an

extension lower with scope for a move towards 0.8908/8892. On the upside,

initial resistance is at 0.9086 while the key resistance comes in at 0.9149, the

Sep 3 high.