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Shoots Higher *RES 4: 0.8594....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Shoots Higher
*RES 4: 0.8594 2.0% Upper 10-dma envelope
*RES 3: 0.8575 High Dec 2
*RES 2: 0.8531 High Dec 4
*RES 1: 0.8511 Intraday high
*PRICE: 0.8506 @ 16:50 GMT Dec 17
*SUP 1: 0.8356 Intraday low
*SUP 2: 0.8277 Low Dec 13
*SUP 3: 0.8213 1.500 projection of Aug 12 - Sep 20 sell-off from Oct 10 high
*SUP 4: 0.8149 1.618 projection of Aug 12 - Sep 20 sell-off from Oct 10 high
EURGBP continued to rally today, rallying comfortably through pressure
resistance highlighted at the 0.8480 area. A continued climb will expose
resistance at 0.8509, Dec 12 high which if cleared would most likely signal the
confirmation of a short-term base. This would open up scope for gains towards
0.8575, Dec 2 high and above. On the downside, support lies at today's 0.8356
low where a break is required to reinstate a near-term bearish focus.

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