EURGBP TECHS: Corrective Pullback
* RES 4: 0.8893 2.000 proj of the Sep 15 - 25 - Oct 8 price swing * RES 3: 0.8875 High Apr 25 * RES ...
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BOBL TECHS: (Z5) Correction Extends
- RES 4: 119.000 Round number resistance
- RES 3: 118.970 High Oct 17 and key resistance
- RES 2: 118.770 High Oct 22
- RES 1: 118.600 High Oct 24
- PRICE: 118.190 @ 06:18 BST Oct 27
- SUP 1: 118.148 50-day EMA
- SUP 2: 118.043 61.8% retracement of the Sep 25 - Oct 17 bull cycle
- SUP 3: 117.900 Low Oct 10
- SUP 4: 117.824 76.4% retracement of the Sep 25 - Oct 17 bull cycle
Bobl futures traded sharply lower Friday, extending the reversal that started on Oct 17. The move down is - for now - considered corrective and is allowing an overbought trend condition to unwind. Attention is on the next important support at 118.148. A clear breach of this average would signal scope for a deeper retracement. Initial resistance is at Friday’s high of 118.600.
LOOK AHEAD: UK Timeline of Key Events (Times GMT)
| Date | Time | Period | Event |
| 27-Oct | 1100 | Oct | CBI Distributive Trades |
| 28-Oct | 0001 | Oct | BRC Monthly Shop Price Index |
| 29-Oct | 0001 | Oct | Brightmine pay deals for whole economy |
| 29-Oct | 0930 | Sep | BOE Lending to Individuals / M4 |
| 31-Oct | 0930 | --- | Blue Book / Pink Book |
| 03-Nov | 0930 | Oct | S&P Global Manufacturing PMI (Final) |
| 04-Nov | 1140 | --- | BOE Breeden at International Banking Conference |
| 05-Nov | 0930 | Oct | S&P Global Services/Composite PMI (Final) |
| 06-Nov | 0930 | Oct | S&P Global/CIPS Construction PMI |
| 06-Nov | 1200 | --- | Bank Of England Interest Rate |
| 06-Nov | 1230 | --- | Bank Of England Press Conference |
| 06-Nov | 1400 | Oct | Decision Maker Panel Data |
| 07-Nov | 1110 | --- | BOE Saporta At ECB Money Market Conference |
| 07-Nov | 1215 | --- | BOE Pill At National Agency Briefing |
EURUSD TECHS: Monitoring Support
- RES 4: 1.1919 High Sep 17 and a bull trigger
- RES 3: 1.1820 High Sep 23
- RES 2: 1.1775 61.8% retracement of the Sep 17 - Oct 9 bear leg
- RES 1: 1.1662/1728 50-day EMA / High Oct 17 and key resistance
- PRICE: 1.1628 @ 06:19 BST Oct 27
- SUP 1: 1.1542 Low Oct 9 and the bear trigger
- SUP 2: 1.1516 76.4% retracement of the Aug 1 - Sep 17 bull leg
- SUP 3: 1.1392 Low Aug 1 and bear trigger
- SUP 4: 1.1313 Low May 30
EURUSD continues to trade above support at 1.1542, the Oct 9 low. A break of this level is required to cancel a recent bullish signal and this would confirm a resumption of the bear cycle that started on Sep 17. A breach would open 1.1516, a Fibonacci retracement, and expose key support at 1.1392, the Aug 1 low. Price needs to trade above 1.1728, the Oct 17 high, to reinstate a bull theme.
