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COMMODITIES

Copper Hits 7-Week Lows As China Seen Curbing Prices

EQUITIES

Strong Start, With S&P Testing New Highs

EURIBOR

Latest Fix (Jun 15 2021)

GILT AUCTION RESULTS

DMO sells GBP2.75bln of the 0.125% Jan-28 gilt

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  • RES 4: 0.8791/8797 High Feb 12 / 2.0% 10-dma envelope
  • RES 3: 0.8731 High Feb 26
  • RES 2: 0.8701/21 High May 7 / High Apr 26 and the bull Trigger
  • RES 1: 0.8652 50-day EMA
  • PRICE: 0.8618 @ 19:51 BST May 18
  • SUP 1: 0.8561 Low May 12
  • SUP 2: 0.8472 Low Apr 5 and the bear trigger
  • SUP 3: 0.8452 2.0% 10-dma envelope
  • SUP 4: 0.8430 Low Feb 27, 2020

EURGBP is consolidating but remains bearish following new weekly lows last week on May 12 of 0.8561. The move lower saw the cross move out of its recent range and confirm a bearish breakout. This suggests scope for a deeper pullback, potentially towards the key support at 0.8472, Apr 5 low. On the upside, the key resistance and bull trigger is unchanged at 0.8721, Apr 26 high. Initial resistance is at 0.8652, the 50-day EMA.