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JGB TECHS

(Z1) Bearish Trend Condition

AUSSIE 10-YEAR TECHS

(Z1) Bearish Price Sequence

AUSSIE 3-YEAR TECHS

(Z1) Off Recent Highs

US 10YR FUTURE TECHS

(Z1)‌‌ Support Appears Exposed

Bearish Trend Conditions Dominate

EURGBP TECHS
  • RES 4: 0.9093 High Dec 29
  • RES 3: 0.9085 High Jan 6
  • RES 2: 0.8955/96 50-day EMA / High Jan 12
  • RES 1: 0.8900/25 20-day EMA / High Jan 18 and key resistance
  • PRICE: 0.8824 @ 06:16 GMT Feb 2
  • SUP 1: 0.8805 Low Feb 1
  • SUP 2: 0.8773 1.0% 10-dma envelope
  • SUP 3: 0.8759 Low May 12, 2020
  • SUP 4: 0.8684 2.0% 10-dma envelope

EURGBP's bearish case firmed Monday as the cross printed a new 2021 low. Further weakness is seen likely with the focus on the 0.8800 handle and 0.8759. The latter is the May 12, 2020 low. Moving average studies are also pointing south reinforcing current trend conditions. On the upside, a firm resistance has been defined at 0.8925, the Jan 18 high where a break is still required to ease the bearish pressure.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com