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BOND SUMMARY

EGBs-GILTS: Weak Start

EUR

EURUSD exchange traded option

POLAND

NBP Gatnar Favors Symbolic 15bps Hike

Bearish Outlook Firms

EURGBP TECHS
  • RES 4: 0.9093 High Dec 29
  • RES 3: 0.9085 High Jan 6
  • RES 2: 0.8975/96 50-day EMA / High Jan 12
  • RES 1: 0.8925 High Jan 18
  • PRICE: 0.8847 @ 20:29 GMT Jan 27
  • SUP 1: 0.8813 Low Jan 27
  • SUP 2: 0.8808 Low May 13, 2020
  • SUP 3: 0.8759 Low May 12, 2020
  • SUP 4: 0.8713 2.0% 10-dma envelope

EURGBP traded lower Tuesday, taking out the former bear trigger to firm the bearish outlook. This follows last week's breach of key support at 0.8867 and 0.8861, the Nov 23 and Nov 11 lows respectively. The break lower reinforces underlying bearish conditions and paves the way for a move towards 0.8800 and 0.8784. On the upside, resistance has been defined at 0.8925, Jan 18 high where a break is required to ease the bearish pressure.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com