Major Range Breakout *RES 4:....>

EURO-STERLING TECHS: Major Range Breakout

*RES 4: 0.9634 4.236 projection of the Dec - Jan rally from the Feb low

*RES 3: 0.9558 4.00 projection of the Dec - Jan rally from the Feb low

*RES 2: 0.9544 3.0% Upper Bollinger Band

*RES 1: 0.9501 Intraday high

*PRICE: 0.9359 @ 09:43 GMT Mar 19

*SUP 1: 0.9325 High Aug 12 and the recent breakout level

*SUP 2: 0.9150 High Mar 16

*SUP 3: 0.9068 Low Mar 18

*SUP 4: 0.8985 Low Mar 16

EURGBP continued to climb in the Asia session as Sterling selling pressure

dragged the currency lower. The cross has cleared a major technical level at the

0.9307-0.9325 zone and the Oct 2016 high of 0.9415 to confirm a breakout of the

range it has traded within since Oct 2016. Given what we are seeing in Sterling,

this sends out a strong bearish message and raises once again the prospect of a

move to parity. Initial objectives are at 0.9544/58.