GBPUSD TECHS: Trading Below Resistance

* RES 4: 0.8694 High Jun 22 * RES 3: 0.8652 High Jun 26 * RES 2: 0.8635 76.4% retracement of the Jun 22 - Jul 15 bear leg * RES 1: 0.8611 High Sep 14 / 17 and a bull trigger * PRICE: 0.8598 @ 16:58 BST Sep 23 * SUP 1: 0.8553 Low Sep 14 and 15 * SUP 2: 0.8532 Low Aug 12 and key S/T support * SUP 3: 0.8518/8455 Low Jul 22 / 15 and the bear trigger * SUP 4: 0.8443 2.236 projection of the May 18 - 25 - Jun 22 swing EURGBP is unchanged and continues to trade in a range. Firm support to watch lies at 0.8532, the Aug 12 low. A clear break of this price point would highlight a reversal of the recent corrective bull cycle that started mid-July. Note that M/T trend signals continue to highlight a dominant downtrend. For bulls, the Sep 14 high of 0.8611 marks key resistance and a short-term bull trigger. A break of this hurdle would confirm a resumption of the correction.