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GILTS

Yield curve shifts higher with 5s30s flattening

EUROZONE ISSUANCE

Austria lowers 2021 funding target

SILVER TECHS

Trading Near Recent Highs

CROSS ASSET

Early Trade Sees EUR/USD Edge Lower

SHORT-STERLING

Huge move lower for short sterling on the open

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  • RES 4: 136.030 High Aug 30 , 31
  • RES 4: 135.870 High Sep 3
  • RES 3: 135.660 High Sep 7 and 9 and key near-term resistance
  • RES 2: 135.550 High Sep 14
  • PRICE: 135.300 @ 05:05 BST Sep 20
  • SUP 1: 135.200 Low Sep 17
  • SUP 2: 135.136 2.236 proj of the Aug 20 - 27 - 31 price swing
  • SUP 3: 135.077 2.382 proj of the Aug 20 - 27 - 31 price swing
  • SUP 4: 135.030 2.50 proj of the Aug 20 - 27 - 31 price swing

Bobl futures outlook remains bearish and the contract traded lower again Friday. This once again confirms an extension of the bearish price sequence of lower lows and lower highs, signalling scope for a continuation lower. The focus is on 135.136 next, a Fibonacci projection. Initial firm resistance is seen at 135.550, Sep 14 high where a break is required to ease current bearish pressure.