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Significant Bullish Swing.......>

EURO-STERLING TECHS
EURO-STERLING TECHS: Significant Bullish Swing
*RES 4: 0.8801 50.0% retracement of the Aug - Dec downleg
*RES 3: 0.8787 Low Sep 20
*RES 2: 0.8751 High Oct 15
*RES 1: 0.8734 High Mar 2
*PRICE: 0.8727 @ 17:08 GMT Mar 2
*SUP 1: 0.8595 Intraday low
*SUP 2: 0.8522 Low Feb 28
*SUP 3: 0.8430 Low Feb 27
*SUP 4: 0.8339 Low Feb 25
EURGBP bulls are well and truly in the driving seat. Friday's gains resulted in
the break of key resistance at 0.8596, the Jan 14 high. This marks an important
swing in price action and also signals a potential significant medium-term
reversal. Momentum studies are pointing north reinforcing current directional
conditions with scope seen for a climb towards 0.8677 next and potentially the
0.8800 handle further out. Initial support is seen at 0.8595.

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