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Tepid Bounce *RES 3: 0.8801.....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Tepid Bounce
*RES 3: 0.8801 50.0% retracement of the Aug - Dec downleg
*RES 2: 0.8787 Low Sep 20
*RES 1: 0.8745 High Mar 3 and 4 high
*PRICE: 0.8657 @ 16:50 GMT Mar 5
*SUP 1: 0.8595 Low Mar 2
*SUP 2: 0.8522 Low Feb 28
*SUP 3: 0.8489 50-day EMA
EURGBP bulls remain in the driving seat, although momentum was lacking Thursday.
Friday's gains resulted in the break of key resistance at 0.8596, Jan 14 high
marking an important swing in price action that also signals a potential
significant M/T reversal. Momentum studies are currently unwinding a recent
overbought reading so we may still see a S/T pullback in price. Initial support
lies at Monday's low of 0.8595. The focus is on a climb towards 0.8801, a
Fibonacci retracement.

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