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EURGBP TECHS

Reverses Recent Downleg

US TSY OPTIONS

5Y Upside Skew Buy

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  • RES 4: 133-20 1.382 proj of Apr 29 - May 7 - May 13 price swing
  • RES 3: 133-11 1.236 proj of Apr 29 - May 7 - May 13 price swing
  • RES 2: 133-06+ High Jun 11 and the bull trigger
  • RES 1: 132-30 High Jun 21
  • PRICE: 132-08 @ 16:41 BST Jun 23
  • SUP 1: 131-14 Low Jun 17
  • SUP 2: 131-01 Low May 13
  • SUP 3: 130-31+ Low May 19 and a key support
  • SUP 4: 130-23+/17+ Low Apr 29 / Low Apr 13

US 10y futures are consolidating. Recent price action has defined key directional parameters at; 133-06+, Jun 11 high and 131-14, Jun 17 low. A breach of resistance is required to confirm a resumption of the uptrend that started Mar 30 and would open 133-11 initially, a Fibonacci projection. Weakness through support at 131-14 would instead highlight the risk of a re-test of the mid-May lows layered between 130-31+ and 131-01.