Retreats From Channel Top:......>

EURO-STERLING TECHS: Retreats From Channel Top:

*RES 4: 0.9015 High Sep 9

*RES 3: 0.8975 High Sep 13

*RES 2: 0.8940 Channel resistance drawn off Aug 12 high

*RES 1: 0.8905 Intraday High

*PRICE: 0.8882 @ 15:46 GMT Sep 30

*SUP 1: 0.8832 Low Sep 30

*SUP 2: 0.8803 Low Sep 25

*SUP 3: 0.8787 Low Sep 19 and bear trigger

*SUP 4: 0.8772 Low May 22

After inching higher Friday and breaching 0.8894, the Sep 19 high, EUR/GBP

retreated in the Monday session, with the bearish trend targeting a return to

the recent low at 0.8787, Sep 20 low. A channel break out would alter the

picture signalling a trend reversal. To the upside, bear channel resistance

drawn off the Aug 12 high is at 0.8940 and represents the key hurdle for bulls

and primary resistance.