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EUROZONE T-BILL ISSUANCE

Bill Supply For W/C May 10, 2021

EURUSD TECHS

Resumes Its Upleg

EUROSTOXX50 TECHS

(M1) Clears 4000

BTP TECHS

(M1) Clears Key Support

GILT TECHS

(M1) Gains Considered Corrective

SCHATZ TECHS

(M1) Needle Points South

Inches Above Monday High

CABLE TECHS
  • RES 4: 1.3079 50.0% retracement of the Sep 1 - 23 sell-off
  • RES 3: 1.3035 High Sep 10
  • RES 2: 1.3007 High Sep 16 and key near-term resistance
  • RES 1: 1.2942 High Sep 30 and just above key EMAs
  • PRICE: 1.2927 @ 16:54 BST Sep 30
  • SUP 1: 1.2745 Low Sep 28
  • SUP 2: 1.2676 Low Sep 23 and the bear trigger
  • SUP 3: 1.2670 High Jul 9
  • SUP 4: 1.2644 Low Low Jul 22

GBPUSD inched just above the Monday high at 1.2930 on a wave of USD weakness. This extended the trend that began with gains earlier this week that resulted in a breach of 1.2867, the Sep 22 high as well as 1.2904-20, the 20-and 50-day EMAs. A close above these levels would be bullish. This would represent an important hurdle and if cleared would expose 1.3007, Sep 16 high. Key support is at 1.2676, Sep 23 low, a break resumes the downtrend.

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