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Pressure Continues On The.......>

EURO-STERLING TECHS
EURO-STERLING TECHS: Pressure Continues On The Stg0.8809-Stg0.8802 Area
*RES 4: Stg0.8909/10 Jan 17, Jan 15 highs
*RES 3: Stg0.8885 Hourly basing area Jan 15-17
*RES 2: Stg0.8870 Hourly congestion Jan 12-16
*RES 1: Stg0.8855 Jan 12 low, now resistance
*PRICE: Stg0.8817 @1045GMT
*SUP 1: Stg0.8802/09 Jan 18 low, Jan 9, 17 lows
*SUP 2: Stg0.8779 61.8% Fibo of Stg0.8689-Stg0.8925
*SUP 3: Stg0.8755 1% volatility band
*SUP 4: Stg0.8744 76.4% Fibo of Stg0.8689-Stg0.8925
*COMMENTARY* The fallout from this month's failure at Stg0.8925 continues. Last
Wednesday's loss of the pivotal Stg0.8840 level, again heaping pressure back on
Stg0.8809-Stg0.8802 support. Above here there are now layers of resistance from
between Stg0.8855 and the now important Stg0.8909-10 area, that need to be
recovered, before the near term bias can return to the topside. Sustained loss
of Stg0.8802, has Stg0.8779-Stg0.8744 potential.

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