LGELEC (Baa2pos/BBBpos/BBB) "*LG ELECTRONICS 3Q SALES 21.87T WON" - BBG "*LG ELECTRONICS 3Q OPER PR...
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The bear cycle in GBPUSD that started Sep 17, remains in play and the latest bounce - for now - appears corrective. Recent weakness resulted in a break of a trendline drawn from the Aug 1 low. This undermines a recent bullish theme. Note too that 1.3333, the Sep 3 low and a key support, has been pierced, opening 1.3282 next, the Aug 6 low. Initial key resistance to watch is 1.3537, the Sep 23 high. A break of it would signal a reversal.
| Date | Time | Country | Event |
| 01-Oct | 0815 | ES | S&P Global Manufacturing PMI (f) |
| 01-Oct | 0830 | EU | ECB Elderson Keynote at ECB Climate Conference |
| 01-Oct | 0845 | IT | S&P Global Manufacturing PMI (f) |
| 01-Oct | 0850 | FR | S&P Global Manufacturing PMI (f) |
| 01-Oct | 0855 | DE | S&P Global Manufacturing PMI (f) |
| 01-Oct | 0855 | EU | ECB de Guindos Interview & Panel at Politico Summit |
| 01-Oct | 0900 | EU | S&P Global Manufacturing PMI (f) |
| 01-Oct | 1000 | EU | EZ HICP Flash |
| 02-Oct | 1000 | EU | EZ Unemployment |
| 02-Oct | 1800 | EU | ECB de Guindos Fireside Chat at ESADE Madrid |
Bobl futures have recovered from their recent lows. The latest bounce appears corrective and the trend condition remains bearish. A price sequence of lower lows and lower highs remains intact and on the continuation chart, moving average studies are in a bear-mode position. Sights are on 117.450, a Fibonacci projection. On the upside, key short-term resistance is 118.090, the Sep 18 high. A move above this level would signal a potential reversal.