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EURO-STERLING TECHS: Little Changed
*RES 4: 0.8869 High Oct 11
*RES 3: 0.8787 Low Sep 20 and former breakout point
*RES 2: 0.8751 High Oct 15
*RES 1: 0.8717 High Oct 16 and key near-term resistance
*PRICE: 0.8619 @ 15:59 GMT Oct 31
*SUP 1: 0.8576 Low Oct 17 and bear trigger
*SUP 2: 0.8558 Low May 8
*SUP 3: 0.8491 Low May 6 and major support
*SUP 4: 0.8482 1.000 projection of Aug 12 - Sep 20 decline from Oct 10 high
Still no change in EURGBP with the cross trading broadly flat. This
consolidation retains the bear flag / pennant formation. This is a continuation
pattern that if correct, highlights the likelihood the pair will depreciate
further near-term. Note, we are still monitoring the candle patterns on Oct
16/17, two long-legged doji formations. They are potentially a basing signal
however, a breach of 0.8717 is required to reinforce this. Bearish still.