Range-Bound *RES 4: 0.8676......>

EURO-STERLING TECHS: Range-Bound

*RES 4: 0.8676 High Oct 24

*RES 3: 0.8658 High Nov 7

*RES 2: 0.8605 High Nov 22

*RES 1: 0.8596 High Jan 14 and bull trigger

*PRICE: 0.8494 @ 10:35 GMT Jan 22

*SUP 1: 0.8488 Low Jan 17

*SUP 2: 0.8452 Low Dec 31 and near-term bear trigger

*SUP 3: 0.8356 Low Dec 17

*SUP 4: 0.8277 Low Dec 13 and key support

EURGBP is still trading within a recently defined 0.8596 - 0.8452 range. Last

week's trendline break drawn off the Aug 12 high remains the key technical

development and still provides a bullish backdrop. A move beyond 0.8596, Jan 14

high would confirm a range breakout and trigger the next leg higher opening

0.8605, Nov 22 high and beyond. A clear S/T risk parameter has been defined at

0.8452, Dec 31 low. A break of this support would concern bulls.