Watching The Directional........>

EURO-STERLING TECHS: Watching The Directional Triggers

*RES 4: 0.8605 High Nov 22

*RES 3: 0.8596 High Jan 14 and bull trigger

*RES 2: 0.8554 High Jan 20

*RES 1: 0.8538 High Feb 4 and intraday bull trigger

*PRICE: 0.8409 @ 10:31 GMT Feb 12

*SUP 1: 0.8387 Low Jan 31 and key near-term support

*SUP 2: 0.8356 Low Dec 17

*SUP 3: 0.8352 76.4% retracement of the Dec 13 - Jan 14 rally

*SUP 4: 0.8302 Low Dec 16

EURGBP extends this week's pullback. The cross however lacks a clear underlying

direction with a sideways pattern dominating. A key S/T resistance has been

defined at 0.8538, Feb 4 high where a break would signal scope for a test of the

more formidable hurdle at 0.8596, Jan 14 high. On the downside, a break of

support at 0.8387, the Jan 31 low would likely trigger a stronger bearish move.

In short, 0.8538 and 0.8387 are directional triggers.