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TECHS: Price Signal Summary. Sterling Under Pressure Again

MARKET INSIGHT
  • EU FI bull rally extends.
    • Bund (H1) has cleared yesterday's high with the focus shifting to 178.89 next, 1.00 projection of the Nov 11 - 30 rally from Dec 2 low.
    • Gilts (H1) surge higher again this morning as the contract continues to defy gravity. 135.96, 76.4% of the Nov 5 - 11 sell-off (cont) and 136.13, 1.50 projection of the Nov 11 - 30 rally from the Dec 2 low mark the next objectives.
    • Treasuries (H1) are pushing higher too, approaching key resistance and the bull trigger at 138-08, Nov 20 / 30 high.
  • In FX, Sterling remains volatile and is significantly softer this morning.
    • Cable has breached support at 1.3225. A clear break through the 50-day EMA would open 1.3106, Nov 12 low.
    • EURGBP has charged higher clearing 0.9142, Dec 7 high. The focus is on 0.9220 next, Sep 22 high.
  • On the commodity front, Gold key support lies at $1822.5, Dec 7 low. A break would signal scope for a deeper pullback. Potential remains for gains to the $1888.9 level, 61.8% retracement of the Nov 9 - 30 sell-off. Brent (G1) bullish objectives are set at $51.66, 0.764 projection of the Nov 16 - 25 rally from the Dec 2 low. WTI (F1) bulls eye $48.07 next, 0.764 projection of the Apr - Aug rally from the the Nov 2 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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