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Opening above last week's highs

GILTS
  • Gilt futures have opened above last week's high of 129.89 and at the time of writing are trading at 129.96.
  • This is in line with the risk-off feel to global markets due to events in Afghanistan, weak Chinese data and continued Covid concerns.
  • Next minor resistance at August 6 high of 130.14, ahead of August 5 high of 130.53 and major resistance at the 200-dma of 130.64.

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