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

EURO-STERLING TECHS
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.
Foreign Exchange Technical AnalysisMarketsForeign Exchange

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