EURGBP TECHS: Bullish Outlook
- RES 4: 0.8600 High Dec 8 2021
- RES 3: 0.8553 High Dec 14 2020
- RES 2: 0.8512/28 High Mar 31 / 2.0% 10-dma envelope
- RES 1: 0.8468 High Apr 27
- PRICE: 0.8390 @ 16:52 BST Apr 29
- SUP 1: 0.8383/8367 Low Apr 28 / 50-day EMA
- SUP 2: 0.8313 Low Apr 22
- SUP 3: 0.8250 Low Apr 14 and key short-term support
- SUP 4: 0.8203 Low Mar 7 and the bear trigger
EURGBP is trading closer to its recent highs and maintains a firmer tone. The recent rally resulted in a break of resistance at 0.8405, the Apr 11 high and a key short-term resistance. The break of this level still highlights a bullish development and has also resulted in a move above 0.8435, the Apr 4 high. An extension would open 0.8512. Initial firm support to watch lies at 0.8367, the 50-day EMA.
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EURGBP TECHS: Bullish Rally
- RES 4: 0.8553 High Dec 10/14 2021
- RES 3: 0.8543 2.0% 10-dma envelope
- RES 2: 0.8498 High Dec 23
- RES 1: 0.8493 High Mar 30
- PRICE: 0.8481 @ 16:31 GMT Mar 30
- SUP 1: 0.8386 Low Mar 29
- SUP 2: 0.8296 Low Mar 23
- SUP 3: 0.8278 Low Mar 7
- SUP 4: 0.8203 Low Mar 7 and the bear trigger
EURGBP traded higher again Wednesday, easing the current bearish threat. Key short-term resistance at 0.8458, Mar 17 high was broken and this highlights a short-term reversal. The break also confirms a resumption of the uptrend that started Mar 7 and signals scope for an extension higher near-term. The focus is on 0.8278, Mar 7 high (probed) and 0.8498, the Dec 23 2021 high. Initial support is at Tuesday’s low of 0.8386.
WHITE HOUSE: Biden Accuses Congress Of Opening Door To New Covid-19 Risk
Biden has delivered remarks at the White House on the current state of the Covid-19 response and used the platform to urge Congress to approve more Covid-19 relief funds.
- Biden: 'Covid is not over but it no longer controls our lives.' He continued, 'America now has the tools to protect all people. Today I am announcing www.covid.gov where anyone in America can find the tools to navigate the virus.'
- Biden uses the remarks to claim that his administration cut the deficit and added jobs to the economy though a robust response to the pandemic.
- Biden: 'But now just as we have reached the critical turning point in this fight Congress has to provide the funding America needs to continue the fight.'
- Biden: ''We're already seeing the consequences of Congressional inaction.'
- Biden says without more funding the US will run out of key Covid-19 supplies by May.
- Biden concludes the presser by receiving his second booster vaccine on stage.
PIPELINE: $4B CIBC 4Pt Launched, Outpaces $3B Workday Debt Issuance
- Date $MM Issuer (Priced *, Launch #)
- 03/30 $4B #CIBC $1.35B 3Y +85, $650M 3Y SOFR+94, $1B 5Y +105, $1B 10Y +130
- 03/30 $3B #Workday $1B 5Y +107, $750M 7K +127, $1.25B 10Y +147
- 03/30 $1.25B #National Bank of Canada 5Y +65
- 03/30 $1.25B *ADB 5Y SOFR+28
- 03/30 $600M #DT Midstream 10Y +195
- 03/30 $Benchmark Rabobank 6NC5 +145a, 6NC5 SOFR, 11NC10 +165a
