* RES 4: 117.140 High Nov 26 and key resistance * RES 3: 117.070 High Nov 27 * RES 2: 116.960 High D...
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Schatz futures are in consolidation mode. A short-term bear cycle remains intact - for now. The current downleg that started Oct 17 is considered corrective and has allowed a recent overbought trend condition to unwind. Note that 107.014, 76.4% of the Sep 25 - Oct 17 bull leg and the next important support, has been pierced. A clear break of it would signal scope for a deeper retracement. Initial resistance is at 107.101, the 50-day EMA.
A sharp sell-off in GBPUSD yesterday reinforces bearish conditions. A key support at 1.3142, the Aug 1 low, has recently been cleared. The break confirmed a resumption of the downtrend that started Sep 17. Sights are on 1.2971 next, a Fibonacci projection point. Note that the trend is in oversold territory, a recovery would allow this condition to unwind. Initial resistance is at 1.3142, the Aug 1 low.
| Date | Time | Period | Event |
| 05-Nov | 0930 | Oct | S&P Global Services / Composite PMI (Final) |
| 05-Nov | 1610 | --- | BOE Breeden At SALT Blockchain Event |
| 06-Nov | 0930 | Oct | S&P Global/CIPS Construction PMI |
| 06-Nov | 1200 | --- | Bank Of England Interest Rate |
| 06-Nov | 1230 | --- | BOE Press Conference |
| 06-Nov | 1400 | Oct | Decision Maker Panel Data |
| 07-Nov | --- | --- | BOE MPG Agenda Published |
| 07-Nov | 1110 | --- | BOE Saporta At ECB Money Market Conference |
| 07-Nov | 1200 | --- | BOE Market Participants Survey |
| 07-Nov | 1515 | --- | BOE Pill At National Agency Briefing |
| 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 | --- | BOE Greene in Panel at UBS European Conference |
| 12-Nov | --- | --- | BOE MPG Meeting |
| 13-Nov | 0700 | Sep/Q3 | GDP / Services / Production / Trade / Construction |
| 13-Nov | 0730 | --- | BOE MPG Minutes Released |
| 13-Nov | 0930 | Q3 | Productivity Flash Estimates |