Recovers Off The Morning Low....>

EURO-STERLING TECHS: Recovers Off The Morning Low

*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

*PRICE: 0.8917 @ 16:50 BST Jun 2

*SUP 1: 0.8867 Intraday low

*SUP 2: 0.8863 1.0% Lower 10-dma envelope

*SUP 3: 0.8837 50-day EMA

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

EURGBP has found resistance at 0.9055, May 29 high and this led to a strong

sell-off Monday. Support at 0.8881 has been probed this morning however the

cross has recovered off the day low. The next key support to watch lies at

0.8837, the 50-day EMA. For now, a bullish focus remains in place with attention

on 0.9086 next, a Fibonacci retracement. A break through the 0.8867/37 zone

would instead likely trigger a stronger bearish signal.