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Edging lower: *RES 4: 0.9117....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Edging lower:
*RES 4: 0.9117 1.0% 10-dma envelope
*RES 3: 0.9086/9094 High Sep 4 / Trendline resistance drawn off Aug 12 high
*RES 2: 0.9031 High Sep 5
*RES 1: 0.9015 High Sep 9
*PRICE: 0.8951 @ 04:03 GMT Sep 10
*SUP 1: 0.8905 Low Sep 9
*SUP 2: 0.8892/86 Low Jul 25 / Bear channel base drawn off the Aug 12 high
*SUP 3: 0.8873 Low Jun 20
*SUP 4: 0.8830 Low Jun 6
EURGBP maintains a bearish outlook as the current sequence of lower lows and
lower highs holds. Furthermore, momentum and moving average studies are pointing
south reinforcing the current bearish theme. The cross is approaching the next
objective at 0.8892, the low of Jul 25. Note that this level lies just ahead of
0.8886, the base the bear channel drawn off the Aug 12 high and potentially a
strong support. Initial resistance is at 0.9015 ahead of 0.9031.

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