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Fails To Hold Above 0.90........>

EURO-STERLING TECHS
EURO-STERLING TECHS: Fails To Hold Above 0.90
Despite briefly trading above the 0.90 level, renewed GBP demand was quick to
pare gains. Bears remain in control with downside focus on the Dec 31 low &
100-dma at 0.8927/04. A break opens the Dec 3 low & 200-dma at 0.8863/59, ahead
of the 61.8% pullback of the recent rally at 0.8829. Bulls need a positive close
above 0.90, before targeting the 61.8% retracement level at 0.9045, ahead of a
return to the ytd high at 0.9108.

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