Sitting On The Channel Top:.....>

EURO-STERLING TECHS: Sitting On The Channel Top:

*RES 4: 0.9015 High Sep 9

*RES 3: 0.8975 High Sep 13

*RES 2: 0.8973 100-dma

*RES 1: 0.8937 High Oct 1 and reversal trigger

*PRICE: 0.8898 @ 09:13 GMT Oct 4

*SUP 1: 0.8832/33 Low Sep 30/100-dma

*SUP 2: 0.8803 Low Sep 25

*SUP 3: 0.8787 Low Sep 19 and bear trigger

*SUP 4: 0.8772 Low May 22

EURGBP failed to pierce the top of the broad channel drawn off the Aug 12 high

yesterday. The channel top intersects at 0.8896 and the cross is still this

morning trading at this hurdle. All eyes today will be on whether it has the

ability to clear channel resistance. Furthermore, a break of 0.8937, Oct 1 high

is also required to reinforce any breakout and would confirm a reversal. Support

is at 0.8832, a move below would highlight a resumption of the downtrend.