Range Breakout, But Rally.......>

EURO-STERLING TECHS: Range Breakout, But Rally Falters

*RES 3: 0.9558 4.00 projection of the Dec - Jan rally from the Feb low

*RES 2: 0.9544 3.0% Upper Bollinger Band

*RES 1: 0.9501 Intraday and multiyear high

*PRICE: 0.9175 @ 17:00 GMT Mar 19

*SUP 1: 0.9122 Low Mar 19

*SUP 2: 0.9068 Low Mar 18

*SUP 3: 0.8985 Low Mar 16

Despite clearing the post-Brexit high and posting a major range breakout,

Thursday's rally faltered early doors as the cross turned lower. Nonetheless,

the overarching outlook remains bullish, and only a retreat below 0.90 will

negate this. On the recent leg higher, the cross cleared a major technical level

at the 0.9307-0.9325 zone and the Oct 2016 high of 0.9415 to confirm a breakout

of the range it has traded within since Oct 2016. Given what we are seeing in

Sterling, this sends out a strong bearish message and raises once again the

prospect of a move to parity. Initial objectives are at 0.9544/58.