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EUROZONE T-BILL ISSUANCE

W/C 20 June, 2022

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Outlook Remains Bullish

EURGBP TECHS
  • RES 4: 0.8852 50.0% retracement of the Mar ‘20 - Mar ‘22 bear leg
  • RES 3: 0.8762 1.00 proj of the Apr 14 - May 12 - 17 price swing
  • RES 2: 0.8721 High May 26 2021 and Jun 15 / bull trigger
  • RES 1: 0.8641 High Jun 23
  • PRICE: 0.8585 @ 06:36 BST Jun 24
  • SUP 1: 0.8559 20-day EMA
  • SUP 2: 0.8507 50-day EMA
  • SUP 3: 0.8433 Low May 23
  • SUP 4: 0.8393 Low May 17 and a key support

EURGBP Short-term pullbacks are still considered corrective and the trend outlook is bullish. Moving average studies remain in a bull mode and this clearly highlights a positive trend condition. The recent breach of resistance at 0.8619, May 12 high, confirmed a resumption of the uptrend and the focus is on a retest of 0.8721, Jun 15 high and the bull trigger. A break would resume the trend. Firm support is seen at 0.8507, the 50-day EMA.

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  • RES 4: 0.8852 50.0% retracement of the Mar ‘20 - Mar ‘22 bear leg
  • RES 3: 0.8762 1.00 proj of the Apr 14 - May 12 - 17 price swing
  • RES 2: 0.8721 High May 26 2021 and Jun 15 / bull trigger
  • RES 1: 0.8641 High Jun 23
  • PRICE: 0.8585 @ 06:36 BST Jun 24
  • SUP 1: 0.8559 20-day EMA
  • SUP 2: 0.8507 50-day EMA
  • SUP 3: 0.8433 Low May 23
  • SUP 4: 0.8393 Low May 17 and a key support

EURGBP Short-term pullbacks are still considered corrective and the trend outlook is bullish. Moving average studies remain in a bull mode and this clearly highlights a positive trend condition. The recent breach of resistance at 0.8619, May 12 high, confirmed a resumption of the uptrend and the focus is on a retest of 0.8721, Jun 15 high and the bull trigger. A break would resume the trend. Firm support is seen at 0.8507, the 50-day EMA.