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Focus Remains On The Downside...>

EURO-STERLING TECHS
EURO-STERLING TECHS: Focus Remains On The Downside
EURGBP failed to extend gains above the 0.86 level on Friday allowing bears to
push back below this level today to return the focus to Wednesday's low at
0.8529. Below here would target the 0.8500 level ahead of the 38.2% retracement
at 0.8468. Bulls need to recover the 0.87 level to improve the outlook and
target prior range lows around 0.8750. Above here would bring the 100 &
200-dma's back into view at 0.8839/58.

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