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CROSS ASSET

Commodity-Tied Dollar Bloc Leads

JGBS

Cheaper On Wider Impetus

AUSSIE BONDS

YM Off Lows, Trouble Staying Offered In Wake Of GDP

FED

VIEW: BNP Paribas: Faster Tapering

US EURODLR FUTURES

Some Light Selling Seen

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  • RES 4: 0.8624/58 High Oct 1 / High Sep 29
  • RES 3: 0.8519 50-day EMA
  • RES 2: 0.8518 High Oct 12 and a firm resistance
  • RES 1: 0.8483 20-day EMA
  • PRICE: 0.8407 @ 16:23 BST Oct 26
  • SUP 1: 0.8400 Round number support
  • SUP 2: 0.8369 1.0% 10-dma envelope
  • SUP 3: 0.8356 Low Feb 26, 2020
  • SUP 4: 0.8339 Low Feb 25, 2020

EURGBP traded under pressure Tuesday. The cross has traded through support at 0.8422, Oct 21/22 low and this confirms a resumption of the current downtrend. The break lower paves the way for weakness below 0.8400 towards 0.8369, a vol based support and 0.8356, the Feb 26, 2020 low. Note that the cross is also approaching the base of a broad multi-year range at 0.8300. Initial firm resistance is 0.8483, the 20-day EMA.