Trading At Last Week's Lows.....>

EURO-STERLING TECHS: Trading At Last Week's Lows

*RES 4: 0.9240 High Mar 26

*RES 3: 0.9184 61.8% Fibonacci retracement of the Mar - Apr decline

*RES 2: 0.9176 High Jun 29 and the bull trigger

*RES 1: 0.9080 High Jul 1

*PRICE: 0.9032 @ 10:39 BST Jul 6

*SUP 1: 0.9001 Low Jun 25

*SUP 2: 0.8950 Low Jun 18

*SUP 3: 0.8942/12 50-day EMA / Low Jun 16

*SUP 4: 0.8883 Low Jun 10

EURGBP stalled at 0.9176 on Jun 29. The subsequent pullback means the cross has

failed to tackle 0.9184, 61.8% of the Mar - Apr decline, a bearish development.

Furthermore, the Jun 30 price pattern was a bearish engulfing candle and warns

of a top. Initial support is located at 0.9001, Jun 25 low with resistance

defined at 0.9176, Jun 29 high. A breach of support would reinforce a bearish

threat. 0.9176 is the trigger for a resumption of gains.