Range Break Out Dominates.......>

EURO-STERLING TECHS: Range Break Out Dominates

*RES 4: 0.8658 High Nov 7

*RES 3: 0.8605 High Nov 22

*RES 2: 0.8596 High Jan 14 and bull trigger

*RES 1: 0.8554 High Jan 20

*PRICE: 0.8423 @ 16:34 GMT Jan 23

*SUP 1: 0.8417 Low Jan 23

*SUP 2: 0.8399 61.8% of the December - January rally

*SUP 3: 0.8356 Low Dec 17

*SUP 4: 0.8277 Low Dec 13 and key support

EURGBP extended the recent sell-off Wednesday slipping through 0.8452. the Dec

31 low. This represents a breakout of the recent range and opens 0.8399

initially, a Fibonacci retracement. The recent pullback negates bullish signs

stemming from last week's trendline break. A deeper pullback would also open

0.8356, Dec 17 low and if this level is cleared, the key bear trigger at 0.8277,

the Dec 13 low. Firm resistance has been defined at 0.8454. Heavy for now.