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CNY: A Risk-On Currency?


WTI gains $1


German 5s/30s is flattening


Greenback Consolidating, NZD Underperforms

Decline Continues, Stg0.8737....>

EURO-STERLING TECHS: Decline Continues, Stg0.8737 Protects Lower Stg0.8692 Level
*RES 4: Stg0.8851/54 Oct 26 low, hourly high Oct 27
*RES 3: Stg0.8826 Oct 27 low, hourly high Oct 27
*RES 2: Stg0.8805 Initial low Oct 31, now resistance
*RES 1: Stg0.8793 Oct 30 low, now resistance
*PRICE: Stg0.8750 @1026GMT
*SUP 1: Stg0.8737 1.618x Stg0.9032-Stg0.8856 from Stg0.9022
*SUP 2: Stg0.8719 Jun 16 low
*SUP 3: Stg0.8692 61.8% of Stg0.8313-Stg0.9306, 2% vol
*SUP 4: Stg0.8642 Jun 8 low
*COMMENTARY* The pullback has continued this week, falling below the 76.4% Fibo
retrace level at Stg0.8813 and also beneath the lower 1% volatility band at
Stg0.8782 by time today. This sees the Sep 27 low at Stg0.8746 and the 1.618
projection target at the slightly lower Stg0.8737, as the next downside
objectives. Resistance Stg0.8793-Stg0.8805 now the bar to any near term
recovery. Lose Stg0.8737 and focus becomes Stg0.8692.