Recovers Off Recent Lows *RES...>

EURO-STERLING TECHS: Recovers Off Recent Lows

*RES 4: 0.9187 61.8% Fibonacci retracement of the Mar - Apr decline

*RES 3: 0.9086 50.0% Fibonacci retracement of the Mar - Apr decline

*RES 2: 0.9057 Double bottom projection

*RES 1: 0.9024/55 High Jun 1 / High May 29 and bull trigger

*PRICE: 0.8997 @ 06:03 BST Jun 5

*SUP 1: 0.8867 Low Jun 2

*SUP 2: 0.8858 1.0% Lower 10-dma envelope

*SUP 3: 0.8846 50-day EMA

*SUP 4: 0.8826 Low May 14 and key near-term support

EURGBP found resistance at 0.9055 last week, May 29 high and this led to a

strong sell-off. Support at 0.8881 was probed Tuesday however the cross has

since recovered off the recent low and traded higher yesterday. The next support

to watch lies at 0.8846, the 50-day EMA. For now, a bullish focus remains in

place with attention on 0.9086 next, a Fibonacci retracement. A break of

0.8867/43 would instead likely trigger a stronger bearish signal.