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EURO-STERLING TECHS: Recovery Still Faces Stg0.8880-Stg0.8900 Resistance
*RES 4: Stg0.8950/51 1% vol band, 76.4% of 0.9032-0.8689
*RES 3: Stg0.8925 1.618 swing Stg0.8891-Stg0.8836, Jan 4 hi
*RES 2: Stg0.8900 Congestion area Jan 5
*RES 1: Stg0.8873/80 Jan 10 high, Jan 4 low
*PRICE: Stg0.8852 @1015GMT
*SUP 1: Stg0.8825/35 Hourly support
*SUP 2: Stg0.8805/10 Congestion area mid December
*SUP 3: Stg0.8772/79 1% vol band, 61.8% Stg0.8689-Stg0.8925
*SUP 4: Stg0.8761 Dec 14 low
*COMMENTARY* Rally moved above initial Stg0.8900-Stg0.8916 resistance last week
but was eventually curtailed by the slightly higher swing target at Stg0.8925.
In the meantime, nearest support from Stg0.8880-Stg0.8865 was lost, followed by
Stg0.8848-Stg0.8836 on Monday. This leaving the downside vulnerable with
Stg0.8810-Stg0.8805 now the protection against a deeper correction of gains from
last month's Stg0.8689 base. Resistance now Stg0.8880-Stg0.8900.