SCHATZ TECHS: (H6) Impulsive Bear Wave Extends
* RES 4: 106.975 High Dec 1 * RES 3: 106.945 High Dec 3 and a key short-term resistance * RES 2: 106...
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GBPUSD TECHS: Corrective Cycle
- RES 4: 1.3471 High Oct 17 and a key short-term resistance
- RES 3: 1.3340 50-day EMA
- RES 2: 1.3237 20-day EMA
- RES 1: 1.3175 High Nov 7
- PRICE: 1.3153 @ 06:25 GMT Nov 10
- SUP 1: 1.3010 Low Nov 4 and 5 and the bear trigger
- SUP 2: 1.2971 1.382 proj of the Sep 17 - 25 - Oct 1 price swing
- SUP 3: 1.2945 50.0% retracement of the Jan 13 - Jul 1 bull leg
- SUP 4: 1.2877 1.618 proj of the Sep 17 - 25 - Oct 1 price swing
A bear trend in GBPUSD remains intact and the latest recovery appears corrective. The move higher is allowing an oversold trend condition to unwind. Firm short-term resistance to watch is at the 20-day EMA, at 1.3237. A break of this hurdle would signal scope for an extension towards the 50-day EMA, at 1.3340. A resumption of the downtrend would pave the way for an extension towards 1.2971. The bear trigger is 1.3010, the Nov 4 and 5 low.
LOOK AHEAD: UK Timeline of Key Events (Times GMT)
| Date | Time | Period | Event |
| 10-Nov | 0910 | --- | BOE Lombardelli at BOE/Ghana Central Bank Conference |
| 11-Nov | 0001 | Oct | BRC-KPMG Shop Sales Monitor |
| 11-Nov | 0700 | Sep/Oct | Labour Market Report |
| 11-Nov | 0830 | Oct | BOE Greene in Panel at UBS European Conference |
| 12-Nov | - | --- | BOE MPG Meeting |
| 12-Nov | 1205 | --- | BOE Pill in Panel at Monetary Research Conference |
| 13-Nov | 0700 | Q3/Sep | GDP / Services / Production / Trade / Construction |
| 13-Nov | 0730 | --- | BOE MPG Minutes Released |
| 13-Nov | 0930 | Q3 | Productivity Flash Estimates |
| 13-Nov | 1200 | --- | BOE Greene in Panel on Central Bank Independence |
| 14-Nov | 0001 | --- | KPMG/REC Report on Jobs |
| 17-Nov | 1320 | --- | BOE Mann on DMP and MonPol |
| 18-Nov | 1300 | --- | BOE Pill Fireside Chat on MonPol |
| 18-Nov | 1700 | --- | BOE Dhingra on Income Growth and Consumption |
| 19-Nov | 0001 | Oct | Brightmine pay deals for whole economy |
| 19-Nov | 0700 | Oct | Consumer Inflation Report / Producer Prices |
| 20-Nov | 1100 | Nov | CBI Industrial Trends |
| 20-Nov | 1830 | --- | BOE Dhingra Speech on Trade and Tariffs |
BOBL TECHS: (Z5) Bearish Theme
- RES 4: 118.970 High Oct 17 and key resistance
- RES 3: 118.770 High Oct 22
- RES 2: 118.360/600 High Oct 28 / 24
- RES 1: 118.213 20-day EMA.
- PRICE: 117.980 @ 05:42 GMT Nov 10
- SUP 1: 117.900 Low Oct 10
- SUP 2: 117.824 76.4% retracement of the Sep 25 - Oct 17 bull cycle
- SUP 3: 117.710 Low Oct 6
- SUP 4: 117.630 Low Oct 1
A short-term bear cycle in Bobl futures remains intact for now. The contract is trading lower today as it starts the week on a bearish note. Price is through 118.043, 61.8% of the Sep 25 - Oct 17 bull cycle. This signals scope for an extension towards 117.824, the 76.4% Fibonacci projection. Initial resistance is seen at 118.213, the 20-day EMA. A clear break of the EMA would signal a possible reversal.
