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GILT AUCTION RESULTS

DMO sells GBP2.25bln of the 1.25% Oct-41 gilt

ESM ISSUANCE

E1.5bln of 6-month bills sold

US 10YR FUTURE TECHS

(M1)‌‌ Bearish Focus

BUNDS

Block trade

Approaching Key Support

EURGBP TECHS
  • RES 4: 0.9085 High Jan 6
  • RES 3: 0.9002 50-day EMA
  • RES 2: 0.8996 High Jan 12
  • RES 1: 0.8937 High Jan 13
  • PRICE: 0.8898 @ 05:08 GMT Jan 15
  • SUP 1: 0.8866 Low Jan 15/Key Support
  • SUP 2: 0.8861 Low Nov 11 and a bear trigger
  • SUP 3: 0.8785 2.0% 10-dma envelope
  • SUP 4: 0.8759 Low May 12, 2020

EURGBP maintains a weaker tone. The cross traded lower Thursday extending the latest downleg. This week's breach of support at 0.8932, Dec 31 low is weighing on the pair. Attention is on 0.8867, Nov 23 low. MA studies are also beginning to display a bearish condition reinforcing the current trend direction. On the upside, key short-term resistance has been defined at 0.9085, Jan 6 high. Initial resistance is at 0.8937, last Wednesday's high.

MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com