GOLD TECHS: Breaches A Pivot Support
* RES 4: $4855.4 - 61.8% retracement of the Mar 2 - Jun 30 bear leg * RES 3: $4718.6 - High May 14 *...
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BOBL TECHS: (U6) Resistance Remains Intact
- RES 4: 115.290 High Jul 3
- RES 3: 115.090 High Jul 7
- RES 2: 114.480 50-day EMA
- RES 1: 114.175 20-day EMA
- PRICE: 114.010 @ 06:07 BST Aug 03
- SUP 1: 113.720/480 Low Jul 31 / 23 and key S/T support
- SUP 2: 113.340 1.000 proj of the Jun 30 - Jul 8 - 10 price swing
- SUP 3: 113.000 Round number support
- SUP 4: 112.836 1.382 proj of the Jun 30 - Jul 8 - 10 price swing
A bear cycle in Bobl futures remains in play and recent gains are for now, considered corrective. The contract has recently traded through 113.740, the May 19 low. This strengthens bearish conditions and signals scope for an extension towards 113.340 next, a Fibonacci projection. Note that moving average studies are in a bear-mode position, highlighting a dominant downtrend. Initial firm resistance to watch is 114.175, the 20-day EMA.
LOOK AHEAD: UK Timeline of Key Events (Times BST)
| Date | Time | Period | Event |
| 03-Aug | 0930 | Jul | S&P Global Manufacturing PMI (Final) |
| 04-Aug | 1200 | Q2 | BOE APF Quarterly Report |
| 05-Aug | 0930 | Jul | S&P Global Composite & Services PMI (Final) |
| 06-Aug | 0930 | Jul | S&P Global/CIPS Construction PMI |
| 10-Aug | 0001 | --- | KPMG-REC Report on Jobs |
| 11-Aug | 0001 | Jul | BRC-KPMG Shop Sales Monitor |
| 13-Aug | 0700 | Q2/Jun | GDP / Services / Production / Trade / Construction |
| 18-Aug | 0700 | Jun/Jul | Labour Market Report |
| 19-Aug | 0001 | Jul | Brightmine pay deals for whole economy |
| 19-Aug | 0700 | Jul | Consumer Inflation Report / Producer Prices |
| 20-Aug | 1100 | Aug | CBI Industrial Trends |
| 21-Aug | 0001 | Aug | Gfk Monthly Consumer Confidence |
| 21-Aug | 0700 | Jul | Public Sector Finances / Retail Sales |
| 21-Aug | 0930 | Aug | S&P Global Flash PMI |
| 26-Aug | 1100 | Aug | CBI Distributive Trades |
| 01-Sep | 0001 | Aug | BRC Monthly Shop Price Index |
| 01-Sep | 0930 | Aug/Jul | S&P Manuf PMI (f) / BOE Lending to Individuals / M4 |
| 03-Sep | 0930 | Aug | S&P Global Composite & Services PMI (Final) |
EURUSD TECHS: Monitoring Trendline Resistance
- RES 4: 1.1686 High May 29
- RES 3: 1.1622 High Jun 15
- RES 2: 1.1587 50.0% retracement of the Apr 17 - Jun 24 bear leg
- RES 1: 1.1545/59 Trendline drawn from Apr 17 high / Intraday high
- PRICE: 1.1533 @ 06:20 BST Aug 03
- SUP 1: 1.1439 20-day EMA
- SUP 2: 1.1353/25 Low Jul 28 / Low Jun 24 and the bear trigger
- SUP 3: 1.1299 2.000 proj of the Jan 27 - Feb 6 - 10 price swing
- SUP 4: 1.1210 Low May 29 ‘25
EURUSD rallied last week. The pair has traded through both the 20- and 50-day EMAs, exposing the next key S/T hurdle at 1.1545, a trendline resistance drawn from the Apr 17 high. It has been pierced, a clear break of this line would highlight a stronger bull cycle. For now, it is likely that gains are corrective. Trend signals highlight a dominant downtrend. A reversal lower would refocus attention on 1.1353, the Jul 28 and a key support.
