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Trading In A Range *RES 4:......>

EURO-STERLING TECHS
EURO-STERLING TECHS: Trading In A Range
*RES 4: 0.8676 High Oct 24
*RES 3: 0.8658 High Nov 7
*RES 2: 0.8605 High Nov 22
*RES 1: 0.8596 High Jan 14 and bull trigger
*PRICE: 0.8542 @ 10:42 GMT Jan 20
*SUP 1: 0.8488 Low Jan 17
*SUP 2: 0.8452 Low Dec 31 and near-term bear trigger
*SUP 3: 0.8356 Low Dec 17
*SUP 4: 0.8277 Low Dec 13 and key support
EURGBP starts the week on a firmer note. The cross though is trading within a
recently defined 0.8596 - 0.8452 range. Last week's trendline break drawn off
the Aug 12 high remains the key technical development providing a bullish
backdrop for now. A move beyond 0.8596, Jan 14 high would trigger the next leg
higher and open 0.8605, Nov 22 high and beyond. A clear S/T risk parameter has
been defined at 0.8452, Dec 31 low. A break would concern bulls.

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