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Fresh YTD Low GBP has...........>

EURO-STERLING TECHS
EURO-STERLING TECHS: Fresh YTD Low
GBP has retained an underlying buoyant tone through Europe, pressuring the cross
to fresh ytd lows. This puts focus back on the 0.8600 level, with a break likely
to accelerate the move and suggest a major topping pattern has been triggered.
Bulls need to recover 0.87 to improve the outlook and target prior range lows
around 0.8750. Above here would bring the 0.88 level back into view, ahead of
the 100 & 200-dma's at 0.8847/62.

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