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CHINA RATES

Futures Resume Rise

AUSSIE BONDS

AOFM Weekly Issuance Slate

TWD

Stronger As Gathering Limits Eased

CHINA RATES

China Repo Rates Diverge Friday

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  • RES 4: 1.4203/48 High Jun 3 / High Jun 1 and the bull trigger
  • RES 3: 1.4133 High Jun 16
  • RES 2: 1.4017 50-day EMA
  • RES 1: 1.4002 High Jun 23
  • PRICE: 1.3961 @ 05:57 BST Jun 24
  • SUP 1: 1.3787 Low Jun 21
  • SUP 2: 1.3717 Low Apr 16
  • SUP 3: 1.3669 Low Apr 12 and a key support
  • SUP 4: 1.3567 Low Apr 2

Despite the recent climb, GBPUSD remains vulnerable. This follows recent weakness that resulted in the break of short-term support levels - price cleared the 50-day EMA and 1.4006, May 13 low. The pair has also traded through the 100-DMA, reinforcing current bearish conditions. Scope is seen for an extension lower towards 1.3717, Apr 14 low. On the upside, initial firm resistance is seen at 1.4017, the 50-day EMA. The bear trigger is 1.3787.