Stg0.8850-54 Resistance.........>

EURO-STERLING TECHS: Stg0.8850-54 Resistance Remains Key To Direction

*RES 4: Stg0.8915 Hourly base Nov 28, now resistance

*RES 3: Stg0.8880/87 Hourly high Nov 28, 1% volatility band

*RES 2: Stg0.8868 Dec 5 high 

*RES 1: Stg0.8850/54 Dec 7, Dec 6 highs

*PRICE: Stg0.8807 @1301GMT

*SUP 1: Stg0.8773 Dec 11 low

*SUP 2: Stg0.8745/50 Minor hourly congestion Dec 7-8

*SUP 3: Stg0.8725 Initial high Dec 8, now support

*SUP 4: Stg0.8687/89 1.618 swing 0.8756-0.8868, Dec 8 low

*COMMENTARY* The fate of a continued recovery is firmly in the hands of

Stg0.8850-Stg0.8854 resistance. Will need to cross back above here, if the

correction of losses from the late November high at Stg0.8982 is to continue,

with Stg0.8868-Stg0.8880 again expected to feature higher, with the upper 1%

volatility band at the slightly higher Stg0.8887. Support from Stg0.8773, loss

would caution and send us back down the recent range.