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Under Pressure This Morning.....>

EURO-STERLING TECHS: Under Pressure This Morning
*RES 4: 0.8717 High Oct 16 and key near-term resistance
*RES 3: 0.8676 High Oct 24
*RES 2: 0.8630 High Nov 8
*RES 1: 0.8606 High Nov 12
*PRICE: 0.8552@ 10:34 GMT Nov 25
*SUP 1: 0.8522 Low Nov 18
*SUP 2: 0.8491 Low May 6 and major support
*SUP 3: 0.8482 1.00 projection of Aug 12 - Sep 20 decline from Oct 10 high
*SUP 4: 0.8473 - Low Mar 13 primary support
EURGBP remains within its consolidative range but is under pressure this
morning. A broader bearish outlook remains in place. The break of 0.8576, Oct 17
low on Nov 11 confirmed a range breakout and a resumption of the downtrend. The
focus is on key support at 0.8491, May 6 low where a break would open 0.8473,
Mar 13 low. Note, a print of 0.8473 would represent a 100% retracement of the
entire Mar 13 - Aug 12 rally. Resistance is 0.8630.

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