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Stg0.8760-65 Break Opens........>

EURO-STERLING TECHS
EURO-STERLING TECHS: Stg0.8760-65 Break Opens Higher Corrective Potential
*RES 4: Stg0.8833/38 Jan 30, 18 highs, 61.8% 0.8930-0.8687
*RES 3: Stg0.8816 Jan 29, Jan 31 highs
*RES 2: Stg0.8785/90 Congestion area Jan 29-31
*RES 1: Stg0.8774 Hourly resistance
*PRICE: Stg0.8766 @1850GMT
*SUP 1: Stg0.8716/27 Intraday low, hourly support
*SUP 2: Stg0.8687/89 Jan 25, Dec 8 lows
*SUP 3: Stg0.8676 1% volatility band
*SUP 4: Stg0.8642 Jun 8 low
*COMMENTARY* The recovery to Stg0.8833 earlier in the week, fell short of higher
resistance from Stg0.8838. The latter the Jan 18 high and a 61.8% Fibo retrace
of the previous Stg0.8930-Stg0.8687 fall. The subsequent fall has been
relatively swift resulting in a challenge and slight break today of pivotal
76.4% Fibo retrace at Stg0.8721. Unable to sustain this as yet, the break back
above resistance Stg0.8760-65 is encouraging, Stg0.8785-Stg0.8816 resistance.

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