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EURO-STERLING TECHS: Stg0.8810 Proves The Bar To Further Recovery Prospects
*RES 4: Stg0.8886 61.8% Fibo of Stg0.8968-Stg0.8620
*RES 3: Stg0.8840/42 1% volatility band, May 4 high
*RES 2: Stg0.8809/10 Jun 1, May 8 highs
*RES 1: Stg0.8790 Hourly resistance
*PRICE: Stg0.8744 @0924GMT
*SUP 1: Stg0.8724/28 Jun 1 low, initial recovery May 29
*SUP 2: Stg0.8697 May 29 low
*SUP 3: Stg0.8673/81 76.4% Stg0.8620-Stg0.8842, Apr 26 low
*SUP 4: Stg0.8664 1% volatility band
*COMMENTARY* The game of snakes and ladders continues, the Stg0.8810-Stg0.8697
range having been fully exploited over the last week or so, most latterly
failing at Stg0.8809. This basically a 76.4% Fibo retrace of the
Stg0.8842-Stg0.8697 fall, seen since the beginning of May. Will need through
here, before the chance of a Stg0.8840-Stg0.8842 return. Support within the
range at Stg0.8728-Stg0.8724, this dealt with Friday's setback.