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US EURODLR OPTIONS

Mixed Wing Trade

EQUITIES

Consolidate some of the post Fed sell off

EURIBOR OPTIONS

More hawkish play

STIR

Effective Fed Funds Rate

US EURODLR OPTIONS

Not Giving Up on Sub-Zero Rate Hedge

Trades Through Key Support

EURGBP TECHS
  • RES 4: 0.9093 High Dec 29
  • RES 3: 0.9085 High Jan 6
  • RES 2: 0.8993/96 50-day EMA / High Jan 12
  • RES 1: 0.8925 High Jan 18
  • PRICE: 0.8849 @ 17:01 GMT Jan 21
  • SUP 1: 0.8830 Low Jan 21
  • SUP 2: 0.8808 Low May 13
  • SUP 3: 0.8759 Low May 12, 2020
  • SUP 4: 0.8753 2.0% 10-dma envelope

EURGBP traded lower still Thursday and cleared the key support between 0.8867 and 0.8861. These mark the Nov 23 and Nov 11 lows and the breach represents a significant technical breakout. The break lower reinforces underlying bearish conditions and paves the way for a move towards 0.8800 and 0.8784. On the upside, a key short-term resistance has been defined at 0.8925 where a break is required to ease the bearish pressure. Heavy!