OPTIONS: Prevalence Of Call Condors / Spreads Buying Continues

• MNI: US MAY TREASURY BUDGET -$292.6B

• RES 4: 0.8747 76.4% retracement of the Feb 27 - Mar 16 bear leg
• RES 3: 0.8742 High Mar 31 and Apr 1 and a bull trigger
• RES 2: 0.8731 High May 18 
• RES 1: 0.8663/82 50-day EMA / High May 29
• PRICE: 0.8628 @ 17:08 BST Jun 10
• SUP 1: 0.8618 Low May 25
• SUP 2: 0.8610 Low Mar 16 and the bear trigger
• SUP 3: 0.8597 Low Aug 14 ‘25
• SUP 4: 0.8576 Low Jul 2 ‘25  

EURGBP is trading at its latest lows. Trend signals are bearish and S/T gains are considered corrective. Sights are on key support at 0.8610, the Mar 16 low. Clearance of this level would highlight an important medium-term bearish breakout. Key resistance to watch is 0.8742, the Mar 31 and Apr 1 high. Initial firm resistance is 0.8663, the 50-day EMA, recently pierced. A clear break of the average would be a short-term bullish development.      

• Treasuries under late session pressure, extending lows, curves bear steepening, while stocks bounce off recent lows however, after latest Trump social media post:
• Donald J. Trump @realDonaldTrump
  Last month, I directed our Great U.S. Military to execute a secret mission to support Oil Tankers and other Commercial Ships through the Straight of Hormuz. Today, I am pleased to announce that this effort has resulted in more than 100 MILLION Barrels of Oil making its way through the Straight, and into the Open Market. More than 200 Commercial Ships have safely traveled through the Strait. This wildly successful effort is because the UNITED STATES of AMERICA CONTROLS the Strait of Hormuz — NOT Iran. Their military is defeated, and their economy is lost. It’s over for Iran! Thank you for your attention to this matter. President DONALD J. TRUMP
• TYU6 breached 109-00 to 108-31.52 low, rebounds to 109-02 last.