Still Range Bound *RES 3:.......>

EURO-STERLING TECHS: Still Range Bound

*RES 3: 0.8865 Apr 7 high and key resistance

*RES 2: 0.8824 50-dma

*RES 1: 0.8814 High May 4

*PRICE: 0.8706 @ 16:38 BST May 5

*SUP 1: 0.8691 Low May 01 / 05

*SUP 2: 0.8671 Low Apr 30 and bear trigger

*SUP 3: 0.8657 Low Mar 9

EURGBP traded weaker Tuesday as the single currency came under considerable

selling pressure. From a technical perspective, the cross is still range bound.

A probe last week of key support at 0.8682, Apr 14 low, failed to deliver any

follow through and did recover off the lows. A close below 0.8682 and a break of

0.8671 low is required to trigger a fresh bearish move. This would confirm a

resumption of the downtrend and open 0.8621, Mar 5 low. Key resistance remains

0.8865.