Stg0.8760-65 Now The Near.......>

EURO-STERLING TECHS: Stg0.8760-65 Now The Near Term Gauge As To Direction

*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: Stg0.8760/65 Hourly resistance

*PRICE: Stg0.8738 @1017GMT

*SUP 1: Stg0.8716/21 Intraday low, 76.4% Stg0.8687-Stg0.8833

*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, resistance

Stg0.8760-65 should now provide near term clues as to direction.