EURGBP TECHS: Key Short-Term Support Remains Exposed
- RES 4: 0.8835 High May 3
- RES 3: 0.8793 61.8% retracement of the Feb 3 - Aug 23 downleg
- RES 2: 0.8725/68 High Nov 22 / 20 and the bull trigger
- RES 1: 0.8702 20-day EMA
- PRICE: 0.8651 @ 06:29 GMT Nov 29
- SUP 1: 0.8650 Low Nov 6 and a key support
- SUP 2: 0.8630 50.0% retracement of the Aug 23 - Nov 20 bull run
- SUP 3: 0.8616 Low Oct 11 and a reversal trigger
- SUP 4: 0.8598 61.8% retracement of the Aug 23 - Nov 20 bull run
EURGBP maintains a softer tone and the cross has traded lower this week. Price is approaching support at 0.8650, the Nov 6 low and a key support. A break of this level would strengthen a bearish theme and pave the way for a move towards 0.8630, a Fibonacci retracement. Further out, a break lower would open 0.8616, the Oct 11 low. Initial resistance to watch is 0.8702, the 20-day EMA.
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LOOK AHEAD: UK Timeline of Key Events (Time UK)
| Date | UK | Period | Event |
| 30-Oct | 0930 | Sep | BOE M4/ Lending to Individuals |
| 31-Oct | 0001 | Oct | BRC Monthly Shop Price Index |
| 01-Nov | 0930 | Oct | S&P Global Manufacturing PMI (Final) |
| 02-Nov | 1200 | - | Bank Of England Interest Rate |
| 02-Nov | 1230 | - | MPR Press Conference |
| 02-Nov | 1400 | - | BOE DMP Survey |
| 03-Nov | 0900 | - | BoE's Hauser speech at Watchers' conference |
| 03-Nov | 0930 | Oct | S&P Global Services PMI (Final) |
| 03-Nov | - | - | BoE APF Q3 Report |
| 03-Nov | 1215 | - | BoE's Pill MPR National Agency Briefing |
| 03-Nov | 1600 | - | BoE's Haskel panellist at Watchers' Conference |
| 06-Nov | 0930 | Oct | S&P Global/CIPS Construction PMI |
| 06-Nov | 1700 | - | BOE's Pill MPR Virtual Q&A |
| 07-Nov | 0001 | Oct | BRC-KPMG Shop Sales Monitor |
| 08-Nov | 0930 | - | BOE's Bailey address at CB of Ireland |
| 09-Nov | 0830 | - | BOE's Pill speaks at ICAEW UK Regions Economic Summit |
| 10-Nov | 0700 | Sep | GDP/Services/Production/Trade/ Construction |
| 10-Nov | 0700 | Q3 | GDP First Estimate |
GILT TECHS: (Z3) Watching Resistance
- RES 4: 96.05 High Sep 25
- RES 3: 95.66 High Oct 12 and the bull trigger
- RES 2: 93.82/94.28 61.8% of the Oct 12 - 23 bear leg / High Oct 16
- RES 1: 93.34 High Oct 24
- PRICE: 92.89 @ Close Oct 27
- SUP 1: 91.62/90.85 Low Oct 26 / 23
- SUP 2: 90.38 Low Oct 12 2022 (cont) and a major support
- SUP 3: 90.00 Psychological round number
- SUP 4: 89.22 1.236 proj of the Sep 20 - Oct 4 - Oct 12 price swing
Gilt futures maintain a bearish theme and recent gains are considered corrective. For bears, price has recently traded through key support at 91.47, the Aug 17 low. This confirmed a resumption of the downtrend and signals scope for 90.38, the Oct 12 2022 low (cont) and a major support. Initial resistance is at 93.34, the Oct 24 high. A break would suggest scope for a stronger correction.
LOOK AHEAD: Eurozone Timeline of Key Events (UK Time)
| Date | Time | Country | Event |
| 30-Oct | 0630 | DE | North Rhine Westphalia CPI |
| 30-Oct | 0800 | ES | HICP (p) |
| 30-Oct | 0900 | DE | Bavaria CPI |
| 30-Oct | 0930 | DE | Baden Wuerttemberg CPI |
| 30-Oct | 1000 | EU | EZ Economic Sentiment Indicator |
| 30-Oct | 1000 | DE | Saxony CPI |
| 30-Oct | 1300 | DE | HICP (p) |
| 30-Oct | 1300 | EU | ECB's De Guindos speech at Leadership forum |
| 31-Oct | 0630 | FR | GDP (p) / Consumer spending |
| 31-Oct | 0700 | DE | Retail Sales / Import/Export Prices |
| 31-Oct | 0745 | FR | HICP (p) / PPI |
| 31-Oct | 0900 | IT | GDP (p) |
| 31-Oct | 0900 | DE | GDP (p) |
| 31-Oct | 1000 | EU | HICP (p) / EMU flash GDP Q/Q Y/Y |
| 31-Oct | 1000 | IT | HICP (p) / PPI |
