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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

Buying continuation

GBP

Better buying continuation in GBP as Europe. joins the session.

  • Overnight reported shorts bailed as we broke through the important 1.4000.
  • GBP is leading gains against JPY and the EUR, up 0.78% and 0.61% respectively.
  • UK politics saw the Tories make further inroads into traditional Labour strongholds.
  • SNP failed by just 1 seat to get an outright majority. BUT, the party is expected to team up with pro-independence Greens to launch another bid for a referendum.
  • Boris also confirmed that the next stage of re-opening will go as planned on the 17th.

QUICK MNI TECH:

  • Cable resistance is now seen further out towards 1.4103 76.4% retracement of the Feb 24 - Apr 12 downleg
  • EURGBP support comes at 0.8624 Low May 5
MNI London Bureau | +44 203-865-3806 | fabrice.benhassine@marketnews.com