Looking For Direction EURGBP...>

EURO-STERLING TECHS: Looking For Direction 

EURGBP continues to trade in choppy fashion as it looks for direction. The

failure to break convincingly below the 0.89 level suggests bulls still eye a

return to the 0.90 mark, despite the recent rally running low on steam. 0.8880

remains the near-term support area and a break below here would change the

conversation. A close below 0.8855 would cement any bearish outlook before any

challenge on the 200-dma at 0.8823. Bulls need to reclaim the 0.9000 level to

regain control and test the 0.9031/33 area. Above here targets the 2% volatility

band at 0.9114.