Trial now
BOE APF PURCHASES

GBP1.147bln of long-dated gilts with offer-to-cover of 1.83x

SOY TECHS

(F2) Holding Onto Most Of Its Gains

US TSY OPTIONS

Early Trade, 2Y Put Sale

PIPELINE

Issuers Cuing Up, Dec'21 to Eclipse Dec'20

CABLE TECHS
CABLE TECHS: Downtrend intact, despite improved CPI:
*RES 3: 1.2232/50 Upper 1.0% 10-dma env / High Jul 31
*RES 2: 1.2210 High Aug 6 and key resistance
*RES 1: 1.2118/52 200-hma / High Aug 9
*PRICE: 1.2066 @ 08:33 GMT Aug 14
*SUP 1: 1.2015 Low Aug12
*SUP 2: 1.2000 Psychological round number
*SUP 3: 1.1986 Low Jan 16 2017
*SUP 4: 1.1949 Bear channel base drawn off the May 6 high
Despite the improved headline CPI & Core reading, GBPUSD remains locked in its
longer-term downtrend with the price sequence of lower lows and lower highs
dominanting the trend. Momentum studies are oversold however this does not
represent a concern for bears at this stage. Friday's break of support at 1.2080
further cemented bearish conditions and brings the psychological 1.2000 level
into view, ahead of the 1.1841 post-referendum low. Clearance of 1.2205/10 is
needed to signal a S/T reversal.