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BLOCK, Jun'23 SOFR/Eurodlr Call Spd


Bullish Outlook


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Still Bearish *RES 4: 1.3514 High Dec...>

CABLE TECHS: Still Bearish
*RES 4: 1.3514 High Dec 13 and primary resistance
*RES 3:1.3422 High Dec 16
*RES 2: 1.3338 High Dec 17
*RES 1: 1.3134 High Dec 18
*PRICE: 1.3011 @ 05:51 GMT Dec 20
*SUP 1: 1.2979 Low Dec 20
*SUP 2: 1.2951 50-dma
*SUP 3: 1.2891 2.0% 10-dma envelope
*SUP 4: 1.2879 Low Nov 29
Having shed further gains Thursday, GBPUSD inched higher Friday, but the
recovery was insufficient to materially change the outlook. The pair closed the
session near the day low. Bearish conditions remain in place for now. This
follows last week's pullback. The move lower resulted in a print below the
former key breakout level of 1.3013, Oct 21 high opening the 50-dma at 1.2951
and potentially below. Initial resistance is at 1.3134, Dec 18 high.

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