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OPTIONS

Expiries for Nov30 NY cut 1000ET (Source DTCC)

EGB OPTIONS

German structures

US EURODLR OPTIONS

BLOCK, Green Dec Package

US TSY FLOWS

Modest Bounce Off Lows

BOE APF PURCHASES

GBP1.147bln of short-dated gilts with offer-to-cover of 1.67x

Needle Pointing South *RES 4:...>

EURO-STERLING TECHS
EURO-STERLING TECHS: Needle Pointing South
*RES 4: 0.8751 High Oct 15
*RES 3: 0.8717 High Oct 16 and key near-term resistance
*RES 2: 0.8676 High Oct 24
*RES 1: 0.8630 High Nov 8
*PRICE: 0.8564 @ 16:46 GMT Nov 20
*SUP 1: 0.8522 Low Nov 18
*SUP 2: 0.8491 Low May 6 and major support
*SUP 3: 0.8482 1.000 projection of Aug 12 - Sep 20 decline from Oct 10 high
*SUP 4: 0.8473 - Low Mar 13 primary support
Despite recovering off recent lows, EURGBP maintains a bearish outlook. Last
week saw prices trade below 0.8576, Oct 17 low to confirm a range breakout and a
resumption of the downtrend. Attention remains on the next key support at
0.8491, May 6 low. A break would open 0.8473, Mar 13 low and note, a print of
0.8473 would represent a 100% retracement of the entire rally between Mar 13 -
Aug 12. First resistance is 0.8630, Nov 8 high. Still heavy for now!