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Tokyo CPI Applies Light Pressure

JAPAN DATA

Japan Tokyo Nov CPI Quickened; +3.6% Y/Y

JGBS

Pressured By Tokyo CPI, 40-Year Supply Eyed

US TSYS

Holding Firm

AUSSIE BONDS

ACGB Apr-25 Auction Goes Well

AUSSIE BONDS

ACGB Apr-25 Auction Results

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Bearish Trend Sequence Intact

EURO-STERLING TECHS
  • RES 4: 0.9146/62 1.0% 10-dma envelope / High Oct 7
  • RES 3: 0.9149 Oct 20 high
  • RES 2: 0.9107 High Oct 23
  • RES 1: 0.9062 50-day EMA
  • PRICE: 0.9019 @ 05:56 GMT Nov 3
  • SUP 1: 0.8984 Low Oct 30
  • SUP 2: 0.8967 76.4% retracement of the Sep 3 - 11 rally
  • SUP 3: 0.8925 Low Sep 7
  • SUP 4: 0.8900 Low Sep 4

EURGBP traded lower Friday and cleared 0.9007, Oct 14 low. This confirmed a resumption of the downtrend that has been in place since reversing lower on Sep 11. The break lower maintains a bearish price sequence of lower lows and lower highs. This has exposed 0.8967 next, a retracement. Key short-term resistance is at 0.9149, Oct 20 high. Clearance of this level would undermine bearish conditions. Initial resistance is 0.9062, 50-day EMA.

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