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

EURO-STERLING TECHS: Off Recent Lows

*RES 4: 0.8997 Low Mar 20 and former breakout level

*RES 3: 0.8988 High Mar 30

*RES 2: 0.8911 High Apr 1

*RES 1: 0.8864/65 High Apr 21 / High Apr 7 and key near-term resistance

*PRICE: 0.8783 @ 16:44 BST Apr 22

*SUP 1: 0.8727 Low Apr 21

*SUP 2: 0.8682 Low Apr 14 and intraday bear trigger

*SUP 3: 0.8657 Low Mar 9

*SUP 4: 0.8621 Low Mar 5 and a key support

EURGBP reversed direction Tuesday countering the bearish trend. The move higher

narrows the gap with early April highs at 0.8911. Ahead of this level however is

0.8865, Apr 7 high which represents a key short-term hurdle for bulls. A break

would suggest scope for stronger gains, potentially beyond 0.8911. For the

bearish theme to resume, the cross needs to move back below the 50-, 200-dmas to

expose 0.8621 again, Mar 5 low.