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Path Of Least Resistance........>

EURO-STERLING TECHS
EURO-STERLING TECHS: Path Of Least Resistance Still Down
*RES 4: 0.8630 High Nov 8
*RES 3: 0.8605 High Nov 22 and key near-term resistance
*RES 2: 0.8575 High Dec 2
*RES 1: 0.8531 High Dec 4
*PRICE: 0.8449 @ 10:25 GMT Dec 6
*SUP 1: 0.8430/25 Low Dec 5 / Low May 12, 2017
*SUP 2: 0.8395 Low May 11, 2017
*SUP 3: 0.8394 Low May 10 and a key support
*SUP 4: 0.8355 1.236 projection of Aug 12 - Sep 20 sell-off from Oct 10 high
EURGBP recovers slightly this morning. The underlying bearish risk though
remains intact. The cross has this week cleared support at 0.8500, Nov 28 low
and the key 0.8473 level, Mar 3 low confirming a resumption of the downtrend
that has been in place since Aug 12. The break of 0.8473 opens 0.8425 and
0.8384, levels last traded in May 2017. Key resistance is at 0.8575, Dec 2 high.
Initial resistance is at Wednesday's 0.8531 high.

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