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UK DATA

UK Monthly GDP Rose As Schools Reopen

SILVER TECHS

Bulls Still In Charge

UK DATA

UK GDP Down in Q1 Amid Lockdown

(H1) Falling Further

JGB TECHS
  • RES 3: 152.55 - High Aug 5 (cont)
  • RES 2: 152.28 - 3.0% Upper Bollinger Band
  • RES 1: 152.18 - High Dec 14 / 23 and the bull trigger
  • PRICE: 151.55 @ 16:23 GMT Feb 8
  • SUP 1: 151.48 - Low Feb 8
  • SUP 2: 151.30 - Low Aug 28
  • SUP 3: 151.18 - Low June 2020

JGBs remain weak, hitting new multi-month lows of 151.48 before stabilising. This retains the underlying downtrend, opening 151.30 as the medium-term target. This reinforces the bearish threat, which firmed on the break of 151.81, the Dec 7 low and bear trigger. On the upside, key resistance has been defined at 152.18, Dec 14/23 high. A break would reinstate a bullish focus.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com