EURGBP TECHS: Bull Cycle Extends
Sep-19 05:31
- RES 4: 0.8701 High Jul 19 and a key resistance
- RES 3: 0.8685 Trendline resistance drawn from the Feb 3 high
- RES 2: 0.8669 High Aug 11
- RES 1: 0.8636 Intraday high
- PRICE: 0.8629 @ 06:30 BST Sep 19
- SUP 1: 0.8569 Low Sep 15 and a key near-term support
- SUP 2: 0.8524 Low Sep 06
- SUP 3: 0.8502 1.0% 10-dma envelope
- SUP 4: 0.8493 Low Aug 23 and the bear trigger
A short-term bull cycle in EURGBP, remains in play and the cross has traded higher. Price has recently breached resistance at 0.8611, the Aug 30 high, and the continuation higher signals scope for a climb towards 0.8685, trendline resistance drawn from the Feb 3 high and a key resistance. On the downside, initial firm support lies at 0.8569, the Sep 15 low. A break of this level would signal a potential top.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
US TSYS: Markets Roundup: Rates Off Week Lows, Focus on Eco-Summit Next Week
Aug-18 19:28
- US Rates are holding moderately firmer levels after the bell late Friday, inside a relatively narrow range following Thursday's sell-off to new contract lows. A quiet end to the week with no economic data Friday, or next Monday for that matter, or Fed speakers until next week.
- Chicago Fed President Goolsbee returns with opening remarks at a Fed listens event on youth employment at 1430ET Tuesday, followed by a fireside chat with Gov Bowman at 1530ET Tuesday.
- Markets eager for details on next week's KC Fed Economic Policy Symposium in Jackson Hole: ‘Structural Shifts in the Global Economy,’ from August 24 to August 26 (schedule/attendees list likely announced the evening of the 24th).
- Treasury futures bounced off early session lows to new session highs in midmorning trade, shy of overnight highs with obvious headline or block/cross driver. Cross-market/asset: Bunds inched higher after the cash open in stocks, Gilts off session lows; West Texas crude climbed .88 to 81.27 while Gold recede -1.45 to 1887.99..
- USD index held marginal negative territory. The Japanese Yen is the strongest performer in G10, with USDJPY slowly gravitating back towards session lows and the important pivotal support around 145.10.
US: Japan-ROK: Biden-Kishida-Yoon Joint Press Conference Underway Shortly
Aug-18 18:58
President Biden, South Korean President Yoon Suk Yeol, and Japanese Prime Minister Fumio Kishida are shortly due to conduct a joint press conference following the conclusion of their historic trilateral summit at Camp David, Maryland.
- Livestream: Link
- The Camp David summit is the first-ever tripartite meeting solely involving the three nations' leaders outside of the constraints of an international gathering and appears set to deliver President Biden one of his most significant foreign policy wins of his first term in the White House.
- More information in today's edition of our US Daily Brief.
- Summary of White House National Security Advisor Jake Sullivan's press preview of the summit: Link
STIR: BLOCK, Late SFRF'4/SFRM'5 SOFR Call Spread Spread
Aug-18 18:56
- 20,000 SFRF4 95.12/95.62 call spds vs. SFRM5 96.75/97.25 call spds, 9.5 net SFRM5 over at 1432:35ET
