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

EURO-STERLING TECHS
EURO-STERLING TECHS: Path Of Least Resistance Still Down
*RES 4: 0.8531 High Dec 4
*RES 3: 0.8509 High Dec 12 and key resistance
*RES 2: 0.8457 High Dec 13
*RES 1: 0.8393 Low Dec 9
*PRICE: 0.8347 @ 10:33 GMT Dec 16
*SUP 1: 0.8277 Low Dec 13
*SUP 2: 0.8213 1.500 projection of Aug 12 - Sep 20 sell-off from Oct 10 high
*SUP 3: 0.8149 1.618 projection of Aug 12 - Sep 20 sell-off from Oct 10 high
*SUP 4: 0.8071 1.764 projection of Aug 12 - Sep 20 sell-off from Oct 10 high
EURGBP remains bearish following Friday's sharp sell-off that once again clearly
confirmed a resumption of the downtrend that has been in place since Aug 12. The
cross breached a major support at 0.8305, May 12, 2016 low. This level also
represents the base of the broad range price has been trading within since
peaking in July 2016. A clear break of the range base would represent a
significant bearish reversal. Initial resistance is seen at 0.8393.

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