Off Recent Lows *RES 4:.........>

EURO-STERLING TECHS: Off Recent Lows

*RES 4: 0.8605 High Nov 22

*RES 3: 0.8596 High Jan 14 and bull trigger

*RES 2: 0.8554 High Jan 20

*RES 1: 0.8501 High Jan 22

*PRICE: 0.8474 @ 16:47 GMT Jan 28

*SUP 1: 0.8389 Low Jan 24

*SUP 2: 0.8356 Low Dec 17

*SUP 3: 0.8352 76.4% retracement of the Dec 13 - Jan 14 rally

*SUP 4: 0.8277 Low Dec 13 and key support

EURGBP last week breached a key support at 0.8452, Dec 31 low to confirm a range

breakout. Friday saw the cross probe 61.8% of the Dec - Jan rally at 0.8399.

Together, this highlights a bearish theme with the cross likely to remain

vulnerable near-term. Attention is on 0.8356, Dec 17 low and if this level is

cleared, the key support at 0.8277, Dec 13 low. Firm resistance has been defined

at 0.8554, Jan 20 high with initial resistance at 0.8501.