EURGBP TECHS: Bull Cycle Remains In Play
- RES 4: 0.8648 76.4% retracement of the Apr 11 - May 29 downleg
- RES 3: 0.8624 High Apr 21
- RES 2: 0.8592 61.8% retracement of the Apr 11 - May 29 downleg
- RES 1: 0.8575 High Jun 23
- PRICE: 0.8526 @ 06:42 BST Jun 26
- SUP 1: 0.8501/8473 20- and 50-day EMA values
- SUP 2: 0.8459 Low Jun 11
- SUP 3: 0.8407 Low Jun 4
- SUP 4: 0.8356 Low May 29 and the bear trigger
EURGBP remains in a bull cycle and the cross is holding on to the bulk of its recent gains. Moving average studies have recently crossed and are currently in a bull-mode position - this reinforces the current uptrend. Scope is seen for a test of 0.8592 next, a Fibonacci retracement. On the downside, support to watch lies at 0.8473, the 50-day EMA. Clearance of this level would highlight a possible reversal.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
EUROZONE T-BILL ISSUANCE: W/C 26 May
Austria, Greece and Italy are still due to sell bills this week, while France has already come to the market. We expect issuance to be E17.1bln in first-round operations, down from up E20.0bln last week.
- Today, Austria will look to sell E1bln of the 2-month Jul 24, 2025 ATB alongside E2bln of the 3-month Aug 28, 2025 Green ATB.
- Tomorrow, Greece will look to sell E500mln of the new 26-week Nov 28, 2025 GTB.
- Also tomorrow, Italy will look to sell E6.5bln of the new 6-month Nov 28, 2025 BOT.
US TSYS: 2yr Block trade
2yr Block trade, suggest Buyer:
- TUM5 ~2.7k at 103.1025.
SCHATZ TECHS: (M5) Has Cleared Resistance
- RES 4: 107.812 0.618 proj of the Mar 6 - Apr 7 - 9 price swing
- RES 3: 107.775 High Apr 7 and the bull trigger
- RES 2: 107.600 High Apr 30
- RES 1: 107.550 High May 7 and last Friday’s high
- PRICE: 107.380 @ 06:25 BST May 27
- SUP 1: 107.195/070 Low May 22 / 13 and the bear trigger
- SUP 2: 106.965 Low Apr 9 and a key support
- SUP 3: 106.928 61.8% retracement of the Mar 6 - Apr 7 bull cycle
- SUP 4: 106.830 Low Mar 27
A bull cycle in Schatz futures remains intact and resistance at 107.335, the May 12 / 20 high, has been cleared. The break signals a stronger reversal. This exposes 107.550, the May 7 high. A break of this level would strengthen a bullish theme. For bears, a resumption of the recent bear leg would instead signal scope for an extension towards 106.965, the Apr 9 low. The bear trigger has been defined at 107.070, the May 13 low.
