Eyeing Key Resistance *RES 4:...>

EURO-STERLING TECHS: Eyeing Key Resistance

*RES 4: 0.9187 61.8% Fibonacci retracement of the Mar - Apr decline

*RES 3: 0.9086 50.0% Fibonacci retracement of the Mar - Apr decline

*RES 2: 0.9055/57 High May 29 / Double bottom projection

*RES 1: 0.9015 High Jun 11

*PRICE: 0.8983 @ 16:56 BST Jun 12

*SUP 1: 0.8864 Low Jun 9

*SUP 2: 0.8861/44 50-day EMA / 1.0% Lower 10-dma envelope

*SUP 3: 0.8826 Low May 14

*SUP 4: 0.8759 Low May 12

Support for the cross at 0.8864, Jun 9 low and 0.8861, 50-day EMA marks a key

cushion for the cross. The recovery this week has ensured this support area

remains intact. The focus is on 0.9055, May 29 high where a break is required to

confirm a resumption of the recovery since early May. On the downside, clearance

of the support zone would instead highlight a bearish risk and open 0.8826, May

14 low and 0.8808, May 13 low.