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Further upside momentum

GILTS
  • Gilt continues to lead, and through another resistance.
  • Next upside MNI target is at 126.84 Low Sep 17
  • The outperformance in Gilt, is pushing the Gilt/Bund spread tighter and at the October low, also lowest levels since late September.
  • Next resistance in EURGBP is seen at 0.8598 76.4% retracement of the Sep 29 - Oct 26 sell-off

Chart source: Bloomberg

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