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BOND SUMMARY

EGB/Gilt: PMIs Point To Contraction

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SONIA FIX - 22/07/22

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CABLE TECHS
CABLE TECHS: Fibonacci Retracement Under Pressure
*RES 4: 1.2503 High Sep 24
*RES 3: 1.2415 100-day MA
*RES 2: 1.2413 High Oct 3
*RES 1: 1.2357 High Oct 4
*PRICE: 1.2233 @ 08:32 GMT Oct 10
*SUP 1: 1.2195 Low Oct 8
*SUP 2: 1.2167 1.0% 10-dma envelope
*SUP 3: 1.2106 76.4% Sep 3 - Sep 20 rise
*SUP 4: 1.2079 Low Sep 4
GBPUSD is trading below the 50-dma. The focus for now remains on the potential
for lower levels following Tuesday's sell-off. The 1.2197 Fibonacci retracement
is under pressure too. A clear break of the retracement an an extension lower
would open the 10-dma envelope support at 1.2167 and the low 1.2100's. For bulls
to regain control, upside targets have shifted to 1.2357 and 1.2413. A break
above the latter is required to expose 1.2582.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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