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EURO-STERLING TECHS
EURO-STERLING TECHS: Reverses Off Highs
*RES 3: 0.8865 Apr 7 high and key resistance
*RES 2: 0.8845 50-dma
*RES 1: 0.8814 High May 4
*PRICE: 0.8766 @ 16:39 BST May 11
*SUP 1: 0.8691 Low May 01 / 05
*SUP 2: 0.8671 Low Apr 30 and bear trigger
*SUP 3: 0.8657 Low Mar 9
EURGBP looks to close slightly higher after selling off from a decent intraday
high up at 0.8807. A probe last week of key support at 0.8682, Apr 14 low,
failed to deliver any follow through and price subsequently recovered off the
lows. A close below 0.8682 and a break of the 0.8671 low is still required to
trigger a fresh bearish move. This would confirm a resumption of the downtrend
and open 0.8621, Mar 5 low. Key resistance and the bull reversal trigger remains
0.8865, the Apr 7 high.

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