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GBPUSD TECHS

Trend Direction Remains Down

FED

Reverse Repo Operation

COMMODITIES

Lumber Breaks Back Above Its 200DMA

BRAZIL

Precatorios Bill Comfortably Passes Senate Vote

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  • RES 4: 173.93 High Aug 25
  • RES 3: 173.54 High Aug 31
  • RES 2: 172.95 61.8% retracement of the Aug - Nov sell-off
  • RES 1: 171.70/72.57 High Nov 23 / High Nov 22
  • PRICE: 170.66 @ 05:10 GMT Nov 25
  • SUP 1: 170.31 Low Nov 24
  • SUP 2: 170.06 Low Nov 5
  • SUP 3: 168.98 Low Nov 3
  • SUP 4: 167.69 Low Nov 1 and the bear trigger

Bund futures edged lower again yesterday as the recent pullback from 172.57, Nov 22 high extends. For now, the move lower is considered corrective as long as support at 170.06 remains intact, Nov 5 low. Recent gains confirmed a resumption of the uptrend and the breach of 171.95 - 61.8% of the Aug - Nov sell-off opens 172.95, the 76.4% retracement. A break of 170.06 however would alter the picture.