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Fresh Lows On Spill Over From GBP Weakness

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Fall Heads Toward Base Of 6.....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Fall Heads Toward Base Of 6 Month Trading Range
*RES 4: Stg0.8874 Mar 15 high
*RES 3: Stg0.8839 Mar 16 high
*RES 2: Stg0.8800/08 Mar 19 hourly high, Mar 16 low
*RES 1: Stg0.8765/75 Hourly resistance
*PRICE: Stg0.8714 @0926GMT
*SUP 1: Stg0.8708 Mar 21 low
*SUP 2: Stg0.8687 Jan 25 low
*SUP 3: Stg0.8642 Jun 8 low
*SUP 4: Stg0.8633 2% volatility band
*COMMENTARY* The fallout from the failure to deal with the top of the congested
6 month trading area early in the month, has continued apace this week. A low of
Stg0.8708 on Wednesday, as we head toward the base of the range at Stg0.8687. In
the meantime, any recovery will need to deal with resistance from
Stg0.8765-Stg0.8775 before seeing the opportunity of some respite and greater
correction of those losses from the Mar 7 high at Stg0.8968.

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