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EURO-STERLING TECHS: Fibo Retrace At Stg0.8951 Caps Rally So Far
*RES 4: Stg0.9013 Nov 15 high, 1.618 swing 0.8920-0.8771
*RES 3: Stg0.8981 Nov 28 high
*RES 2: Stg0.8951 Mar 2 high, 76.4% of Stg0.9032-Stg0.8687
*RES 1: Stg0.8937 1% volatility band
*PRICE: Stg0.8914 @1042GMT
*SUP 1: Stg0.8905/08 Hourly support, intraday low
*SUP 2: Stg0.8883 Hourly base Mar 1
*SUP 3: Stg0.8864 Feb 22 high, now support
*SUP 4: Stg0.8837 Mar 1 low
*COMMENTARY* Have recently seen a move through the range top at Stg0.8920-26. So
far, this has been halted at Stg0.8951, the 76.4% Fibo retrace level of the
Stg0.9032-Stg0.8687 fall seen since the beginning of October last year. Will
need to maintain a break through here, before the potential for a higher
Stg0.8981-Stg0.9013 rise will occur. In the meantime, Stg0.8905 provides support
and a brake against some deeper correction of recent gains.