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EURO-STERLING TECHS: Fails to Pierce Channel Top:
*RES 3: 0.8975 High Sep 13
*RES 2: 0.8972 100-dma
*RES 1: 0.8937 High Oct 1
*PRICE: 0.8865 @ 15:48 GMT Oct 3
*SUP 1: 0.8832/33 Low Sep 30/100-dma
*SUP 2: 0.8803 Low Sep 25
*SUP 3: 0.8787 Low Sep 19 and bear trigger
The cross failed to pierce the top of the broad channel drawn off the Aug 12
high, that intersects at 0.8907. This keeps bullish focus on whether the cross
can clear Monday's 0.8937 high, which remains on the cards despite the Thursday
pullback. Any move above this mark would confirm a channel breakout. If
achieved, it would also signal a trend reversal and open the 100 dma initially
and the resistance at 0.8975, Sep 13 high would be exposed too. Support lies at
0.8832, Sep 30 low.