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EURO-STERLING TECHS: Retracing Recent Gains
*RES 4: 0.9640 3.0% Upper Bollinger Band
*RES 3: 0.9634 4.236 projection of the Dec - Jan rally from the Feb low
*RES 2: 0.9558 4.00 projection of the Dec - Jan rally from the Feb low
*RES 1: 0.9501 High Mar 19 and multiyear high
*PRICE: 0.9119 @ 16:17 GMT Mar 20
*SUP 1: 0.8997 Low Mar 20
*SUP 2: 0.8985 Low Mar 16
*SUP 3: 0.8933 1.0% 10-dma envelope
*SUP 4: 0.8851 20-day EMA
EURGBP has this week confirmed a break of the range the cross has traded within
since the Oct 2016 high. While we have yet to see bullish follow through with
the cross pulling back from Thursday's 0.9501 high, the overarching outlook
remains bullish. Only a retreat below 0.9000 will suggest a possible reversal
instead. Bullish objectives are at 0.9544/58, a break of 0.9501 would confirm a
resumption of the uptrend. Initial firm support is seen at 0.8933.