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EURJPY TECHS

Needle Still Points North

GILT TECHS

(M1) Key Support Zone Exposed

SCHATZ TECHS

(M1) Clears Congestion Support

BTP TECHS

(M1) Downtrend Extends Further

BOBL TECHS

(M1) Bearish Breakout Cemented

CABLE
CABLE: Cable proved a little more resilient than some of the other major-USD
pairs on Wednesday, before late comments from Fed Chair Powell forced the rate
to a fresh session low ($1.2925).
- The pair had little reaction to marginal miss in the heavily watched UK
Services PMI, while GBP clearly marked down the odds of a near-term snap general
election after a successful Conservative Party conference for PM May.
- The rate last deals at $1.2940 after closing below the 50-DMA ($1.2975), with
bears now looking to Wednesday's low ($1.2925), followed by the September 10 low
($1.2897) as the next major levels of support, barring a couple of retracement
levels. Bulls need to reclaim the 50-DMA & $1.3000, to hint at a degree of
stabilisation.
- The UK docket looks relatively light during the remainder of the week, with
participants set to focus on any Brexit rhetoric (France reiterated its
relatively hard-line stance re: Brexit negotiations on Wednesday, noting that no
deal would be better than the EU allowing concessions). UK highlights next week
include Aug GDP data, as well as trade & production data.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com