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Taking a Breather *RES 3:.......>

EURO-STERLING TECHS
EURO-STERLING TECHS: Taking a Breather
*RES 3: 0.8504 High Oct 10
*RES 2: 0.8459 High Feb 11
*RES 1: 0.8400 High Feb 13
*PRICE: 0.8333 @ 09:45 GMT Feb 18
*SUP 1: 0.8296 Low Feb 13
*SUP 2: 0.8277 Low Dec 13
*SUP 3: 0.8251 Low Jul 14 2016
EURGBP last week re-established a short-term direction and it is down. For now
through, the cross appears to be consolidating. The sharp sell-off Thursday
confirmed a break of former support at 0.8387, the Jan 31 low, confirming a
bearish tone. This opens the December low at 0.8277. Note, a break of 0.8277
would also highlight a major bearish breakout of the broad range the cross has
been trading within since Oct 2016. A key S/T resistance has been defined at
0.8538, Feb 4 high. Initial resistance is at 0.8400.

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