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TECHS: Key Price Signal Summary - Sterling Is Offered.

MARKET INSIGHT
  • Cable is down sharply as Sterling is sold across the board. The pair has cleared support at 1.3288, Dec 2 low and is also through the 20-day EMA this morning. This exposes 1.3196, Nov 19 low and 1.3163 50-day EMA.
  • EURGBP has rallied sharply higher. The cross has probed 61.8% of the Sep 11 - Nov 11 sell-off, at 0.9127. Stronger gains would open 0.9162, Oct 7 high. Last week's break of trendline resistance drawn off the Sep 11 high continues to highlight a bullish technical theme.
  • The USD remains on the backfoot. USDCAD in particular accelerated lower late last week. Scope is for weakness towards 1.2712 1.00 projection of the Oct 29 - Nov 9 sell-off from Nov 13 high. EURUSD pullbacks are considered corrective. Support is at 1.2040, Dec 2 low.
  • PM and Oil Still Bullish:
    • Gold is trading ahead of firm resistance at $1848.8, Sep 18 and the recent breakout level. A break would reinforce bullish conditions.
    • Brent (G1) last week resumed its uptrend. The focus is on $50.00 and $50.45, 61.8% of Jan - Apr sell-off (cont). WTI (F1) bulls eye $48.07, 0.764 projection of the Apr - Aug rally from the Nov 2 low.
  • FI levels to watch:
    • Bund (H1) resistance is at 178.10, Nov 30 high.
    • Gilts (H1) key resistance is 134.70, Nov 20 high and support is at 133.52, Dec 2 low.
    • Treasuries (H1) support and downside trigger is at 137-07+, Dec 4 low.
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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