Pressure Returns To The.........>

EURO-STERLING TECHS: Pressure Returns To The Stg0.8809-Stg0.8806 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: Stg0.8833 @10380GMT

*SUP 1: Stg0.8806/09 50% Stg0.8689-Stg0.8925, Jan 9, 17 lows

*SUP 2: Stg0.8779 61.8% Fibo of Stg0.8689-Stg0.8925

*SUP 3: Stg0.8763 1% volatility band

*SUP 4: Stg0.8744 76.4% Fibo of Stg0.8689-Stg0.8925

*COMMENTARY* The fallout from last week's second failure at Stg0.8925 continues.

Wednesday's loss of the pivotal Stg0.8840 level, once again heaping pressure

back on Stg0.8809-Stg0.8806 support. So far this has withstood investigation but

there are now layers of resistance from between here and the now important

Stg0.8909-10 area, that need to be recovered, before the near term bias can

return to the topside. Loss of Stg0.8806, has Stg0.8779-Stg0.8744 potential.