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Downtrend Resistance Holds......>

EURO-STERLING TECHS
EURO-STERLING TECHS: Downtrend Resistance Holds
EURGBP remains below down trendline resistance from the Feb 14 highs and the
55-dma at 0.8643 despite this level being tested yesterday. A close above here
is needed to re-ignite upside momentum towards the March 23 high at 0.8723,
above which would suggest a triple bottom is in play. Bears need a close below
0.8600 to open the Apr 5 low & 61.8% retracement at 0.8557/54. A break would
extend the broader downtrend towards the 0.8500 area. 

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