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Looking A Little Heavy *RES.....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Looking A Little Heavy
*RES 4: Gbp0.9280 Hourly support Aug 29 now resistance
*RES 3: Gbp0.9270 Alternating hourly support/resistance
*RES 2: Gbp0.9248 Low Aug 29 now resistance
*RES 1: Gbp0.9215 Alternating hourly support/resistance
*PRICE: Gbp0.9194 @ 0430GMT
*SUP 1: Gbp0.9189 Hourly support Aug 23a 
*SUP 2: Gbp0.9149 High Aug 18 now support 
*SUP 3: Gbp0.9136 21-DMA 
*SUP 4: Gbp0.9091 Low Aug 18
*COMMENTARY: After a stellar run the pair looks a little heavy with an increased
risk of a correction initially to Gbp0.9136-49. Bears now need a close below the
21-DMA to hint at move lower that targets Gbp0.8958-88 where the bull channel
base and 55-DMA are situated. Layers of resistance and correcting O/B studies
are adding weight to the correction case. Bulls now need a close above Gbp0.9248
to regain the upper hand and retain focus on 2016 highs.

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