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Rally Threatens The Upper 1%....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Rally Threatens The Upper 1% Volatility Band
*RES 4: Stg0.9087 61.8% Fibo of Stg0.9306-Stg0.8687
*RES 3: Stg0.9032 Oct 12 high
*RES 2: Stg0.9013 Nov 15 high, 1.618 swing 0.8920-0.8771
*RES 1: Stg0.8981 Nov 28 high
*PRICE: Stg0.8960 @1045GMT
*SUP 1: Stg0.8905/15 Hourly support
*SUP 2: Stg0.8885 Mar 5 low
*SUP 3: Stg0.8864 Feb 22 high, now support
*SUP 4: Stg0.8844 Feb 27 high, now support
*COMMENTARY* Have broken above the 76.4% Fibo retrace level at Stg0.8951 today
and the upper 1% volatility band at Stg0.8965 is also being challenged. Clearly
sustained move through here will have the Nov 28 high at Stg0.8981 in its sights
next, ahead of stronger resistance from Stg0.9013. In the interim, support comes
from above Stg0.8915-Stg0.8905. A loss of the latter would caution and weaken
the immediate upside argument.

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