Range Break Out Still Weighs....>

EURO-STERLING TECHS: Range Break Out Still Weighs

*RES 4: 0.8605 High Nov 22

*RES 3: 0.8596 High Jan 14 and bull trigger

*RES 2: 0.8554 High Jan 20

*RES 1: 0.8501 High Jan 22

*PRICE: 0.8437 @ 16:17 GMT Jan 24

*SUP 1: 0.8389 Intraday low

*SUP 2: 0.8356 Low Dec 17

*SUP 3: 0.8352 76.4% retracement of the Dec 13 - Jan 14 rally

*SUP 4: 0.8277 Low Dec 13 and key support

EURGBP price action post PMI strengthens the S/T bearish theme. Earlier this

week the cross breached a key support at 0.8452, Dec 31 low to confirm a range

breakout. Friday saw the 61.8% retracement of the Dec - Jan rally at 0.8399

breached. Further weakness would open 0.8356, Dec 17 low and if this level is

cleared, the key bear trigger at 0.8277, Dec 13 low. Firm resistance has been

defined at 0.8554. Heavy for now.