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Still bearish within the........>

EURO-STERLING TECHS
EURO-STERLING TECHS: Still bearish within the channel:
*RES 4: 0.8995 Channel resistance drawn off Aug 12 high
*RES 3: 0.8975 High Sep 13
*RES 2: 0.8902 High Sep 16
*RES 1: 0.8894 High Sep 19
*PRICE: 0.8842 @ 16:03 GMT Sep 23
*SUP 1: 0.8787 Low Sep 19
*SUP 2: 0.8772 Low May 22
*SUP 3: 0.8725 Low Jun 21
*SUP 4: 0.8687 76.4% retracement 0.8490 - 0.9325
EURGBP extended the downtrend Friday, hitting fresh lows at 0.8787. The
technical outlook is broadly unchanged and remains bearish. The 0.8809
objective, 61.8% Fibonacci retracement has been achieved and attention turns to
0.8772 and 0.8725, May 22 and 21 lows respectively. Momentum and moving average
studies continue to point south. On the upside, resistance is located Thursday's
0.8894 high.

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