Still Range Bound *RES 4:.......>

EURO-STERLING TECHS: Still Range Bound

*RES 4: 0.8911 High Apr 1

*RES 3: 0.8865 Apr 7 high and key resistance

*RES 2: 0.8824 50-dma

*RES 1: 0.8814 High May 4

*PRICE: 0.8710 @ 10:28 BST May 5

*SUP 1: 0.8691 Low May 1

*SUP 2: 0.8671 Low Apr 30 and bear trigger

*SUP 3: 0.8657 Low Mar 9

*SUP 4: 0.8621 Low Mar 5 and a key support

EURGBP is weaker this morning as the Euro faces 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.