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EURO-STERLING TECHS: Range-Bound
*RES 4: 0.8911 High Apr 1
*RES 3: 0.8865 Apr 7 high and key resistance
*RES 2: 0.8845 50-dma
*RES 1: 0.8814 High May 4
*PRICE: 0.8768 @ 05:50 BST May 12
*SUP 1: 0.8691 Low May 01 / 05
*SUP 2: 0.8671 Low Apr 30 and bear trigger
*SUP 3: 0.8657 Low Mar 9
*SUP 4: 0.8621 Low Mar 5 and a key support
EURGBP is consolidating below resistance at 0.8814, May 4 high. The cross also
continues to consolidate within a broader range. The range parameters are
defined by 0.8865, Apr 7 high at the top and 0.8671, Mar 30 low on the downside.
A clear break of 0.8671 is required to trigger a fresh bearish move. This would
confirm a resumption of the downtrend and open 0.8621, Mar 5 low. Clearance of
resistance at 0.8865 would instead signal a reversal.