EURGBP TECHS: Support Remains Intact - For Now
- RES 4: 0.9066 High Sep 28
- RES 3: 0.8992 61.8% retracement of the Sep 26 - Dec 1bear leg
- RES 2: 0.8979 High Feb 3 and the bull trigger
- RES 1: 0.8850/8925 20-day EMA / High Mar 7 and a key resistance
- PRICE: 0.8834 @ 06:32 GMT Mar 15
- SUP 1: 0.8778 Low Mar 14
- SUP 2: 0.8767/55 100-dma / Low Feb 28 and key support
- SUP 3: 0.8722 Low Jan 19 and a key support
- SUP 4: 0.8712 61.8% retracement of the Dec 1 - Feb 3 bull leg
EURGBP traded lower Tuesday. The pullback from 0.8925, the Mar 7 high, undermines the recent bullish theme and exposes key support at 0.8755, the Feb 28 low. A break of this level would signal scope for a deeper retracement and open 0.8722, the Jan 19 low. Key resistance has been defined at 0.8925, where a break is required to reinstate a bullish outlook. This would open 0.8979, the Feb 3 high.
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LOOK AHEAD: UK Timeline of Key Events (Times GMT)
| Date | UK | Period | Event |
| 14-Feb | 0700 | Dec/Jan | Labour Market Survey |
| 15-Feb | 0700 | Jan | Inflation Report |
| 15-Feb | 0930 | Dec | ONS House Price Index |
| 16-Feb | 1700 | ---- | BOE Pill Fireside Chat at Warwick University Think Tank |
| 17-Feb | 0700 | Jan | Retail Sales |
| 21-Feb | 0700 | Jan | Public Sector Finances |
| 21-Feb | 0930 | Feb | S&P Global Flash Manufacturing/Services PMIs |
| 23-Feb | 0930 | ---- | BOE Mann Speech at Resolution Foundation |
| 23-Feb | 1045 | ---- | BOE Cunliffe Keynote Address at G20 Finance Meeting |
| 24-Feb | 0001 | Feb | Gfk Monthly Consumer Confidence |
| 24-Feb | 1630 | ---- | BOE Tenreyro Panellist at NY Fed |
| 01-Mar | 0001 | Feb | BRC Monthly Shop Price Index |
| 06-Mar | 0930 | Feb | S&P Global Construction PMI |
| 07-Mar | 0001 | Feb | BRC-KPMG Shop Sales Monitor |
LOOK AHEAD: Eurozone Timeline of Key Events (Times GMT)
| Date | Time | Country | Event |
| 13-Feb | ---- | EU | ECB Lagarde & Panetta at Eurogroup Meeting |
| 14-Feb | ---- | EU | ECB de Guindos at ECOFIN Meeting |
| 14-Feb | 1000 | EU | GDP (p) / Employment |
| 15-Feb | 0800 | ES | HICP (f) |
| 15-Feb | 1000 | EU | Industrial Production / Trade Balance |
| 15-Feb | 1400 | EU | ECB Lagarde at Plenary Debate on ECB Annual Report |
| 16-Feb | 0915 | EU | ECB Panetta Discussion at Centre for European Reform |
| 16-Feb | 1500 | EU | ECB Lane Dow Lecture at NIES London |
| 16-Feb | 1945 | EU | ECB de Guindos Students Discussion |
| 17-Feb | 0700 | DE | PPI |
| 17-Feb | 0745 | FR | HICP (f) |
| 17-Feb | 0900 | EU | EZ Current Account |
| 20-Feb | 0700 | DE | PPI |
| 20-Feb | 1000 | EU | Construction Production |
| 20-Feb | 1500 | EU | Consumer Confidence Indicator (p) |
BUND TECHS: (H3) Bearish Outlook
- RES 4: 142.59 0.764 proj of the Jan 2 - 19 - 30 price swing
- RES 3: 141.70 High Dec 13
- RES 2: 140.73 High Jan 19 and the bull trigger
- RES 1: 137.71/139.86 50-day EMA / High Feb 2
- PRICE: 136.00 @ 20:16 GMT Feb 12
- SUP 1: 135.62 Low Feb 8
- SUP 2: 135.08 Low Jan 4
- SUP 3: 134.52 76.4% retracement of the Jan 2 - 19 bull run
- SUP 4: 133.79 Low Jan 3
Bund futures are trading closer to their recent lows. The contract last week breached support at 136.38, the Jan 30 low and this has strengthened the current bearish cycle. The focus is on 135.08 next, the Jan 4 low. Moving average studies are in a bear-mode position, reinforcing current conditions and highlighting bearish sentiment. On the upside, resistance to watch is at 137.71, the 50-day EMA.
