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US TSYS/SUPPLY

5Y Auction ​Review: Decent, Indirect Take-Up 2021 High

EURUSD TECHS

Short-Term Bull Cycle Remains Intact

US TSYS/SUPPLY

5Y WI

OPTIONS

Sterling Spreads Bought As UK Budget Unveiled

Consolidating

GBPUSD TECHS
  • RES 4: 1.4448 2.0% 10-dma envelope
  • RES 3: 1.4377 High Apr 17, 2018 and a key resistance
  • RES 2: 1.4315 High Apr 18, 2018
  • RES 1: 1.4203/48 High Jun 3 / High Jun 1 and the bull trigger
  • PRICE: 1.4159 @ 06:04 BST Jun 8
  • SUP 1: 1.4083 Low Jun 4
  • SUP 2: 1.4019/06 50-day EMA / Low May 13
  • SUP 3: 1.3972 Low May 10
  • SUP 4: 1.3858 Low May 6

GBPUSD is in a range and remains below last week's 1.4248 high from Jun 1. Trend conditions are bullish. The probe last week of former resistance at 1.4237, Feb 24 high reinforces a broader bullish theme however a clear break is required to confirm a resumption of the uptrend. This would open 1.4315 next, April 18, 2018 high. On the downside, initial firm support is at 1.4083, the Jun 4 low. A break would expose the 50-day EMA at 1.4019.

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