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EURGBP TECHS

Breaches Support

GBPUSD TECHS

Remains Under Pressure

EURUSD TECHS

Bear Cycle Extension

US TSY OPTIONS

30Y Put

COMMODITIES

Oil Bounces, Eyes Iran Poll and Gulf Weather

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  • RES 4: 130.38 High Feb 17 / 18
  • RES 3: 129.75 High Feb 19
  • RES 2: 129.09/27 High Apr 23 and the reversal trigger / High Mar 2
  • RES 1: 128.80 High May 7
  • PRICE: 128.52 @ Close May 7
  • SUP 1: 127.40 Low Apr 29
  • SUP 2: 127.32 Low Apr 1
  • SUP 3: 126.79 Low Mar 18 and the bear trigger
  • SUP 4: 126.55 Low Apr 17, 2019 (cont)

Gilt futures traded higher Friday. Despite last week's gains a bearish theme remains intact following the breach on Apr 28/29 of support at 127.81, Apr 14 low. This move strengthens a bearish case following the recent pullback from 129.09, Apr 23 high and the area of resistance around the 50-day EMA. An extension lower would open 127.32, Apr 1 low ahead of the key support at 126.79, Mar 18 low. Key resistance is unchanged at 129.09.