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Heading south: *RES 4: 0.9149...>

EURO-STERLING TECHS
EURO-STERLING TECHS: Heading south:
*RES 4: 0.9149 Sep 3 High
*RES 3: 0.9143 1.0% 10-dma envelope
*RES 2: 0.9086 High Sep 4
*RES 1: 0.9031 High Sep 5
*PRICE: 0.8952 @ 04:13 GMT Sep 6
*SUP 1: 0.8945 Intraday Low
*SUP 2: 0.8908/8892 50% retrace of May 6 - Aug 12 rally / Low Jul 25
*SUP 3: 0.8873 Low Jun 20
*SUP 4: 0.8830 Low Jun 6
EURGBP selling pressure carried through well into the Thursday session,
reinforcing the recent bearish reversal. With the trendline support drawn off
the May 6 cleared and the recent bear flag formation confirmed, the cross
appears set to extend the current slide. This is also supported by trend
directional indicators that are pointing south. The focus is on 0.8908/8892
next. On the upside, initial resistance is at 0.9031 ahead of 0.9086.

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