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Looking Lower *RES 4: 0.8538....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Looking Lower
*RES 4: 0.8538 High Feb 4 and key resistance
*RES 3: 0.8504 High Oct 10
*RES 2: 0.8459 High Feb 11
*RES 1: 0.8400 High Feb 13
*PRICE: 0.8305 @ 04:54 GMT Feb 19
*SUP 1: 0.8282 Low Feb 18
*SUP 2: 0.8277 Low Dec 13
*SUP 3: 0.8251 Low Jul 14 2016
*SUP 4: 0.8176 50% 2015 - 2016 rally
EURGBP Tuesday confirmed that last week's short-term direction was prescient and
resumed the downtrend. The sharp sell-off Thursday confirmed a break of former
support at 0.8387, the Jan 31 low. This opens the December low at 0.8277. Note,
a break of 0.8277 would also highlight a major bearish breakout of the broad
range the cross has been trading within since Oct 2016. A key S/T resistance has
been defined at 0.8538, Feb 4 high. Initial resistance is at 0.8400.

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