GBPUSD TECHS: Testing Resistance At The 20-Day EMA
- RES 4: 1.3368 50.0% retracement of the Sep 17 - Nov 4 bear leg
- RES 3: 1.3314 50-day EMA
- RES 2: 1.3284 38.2% retracement of the Sep 17 - Nov 4 bear leg
- RES 1: 1.3212/16 20-day EMA / High Nov 13
- PRICE: 1.3140 @ 15:59 GMT Nov 14
- SUP 1: 1.3085/10 Low Nov 12 / Low Nov 4 & 5 and the bear trigger
- SUP 2: 1.2971 1.382 proj of the Sep 17 - 25 - Oct 1 price swing
- SUP 3: 1.2945 50.0% retracement of the Jan 13 - Jul 1 bull leg
- SUP 4: 1.2877 1.618 proj of the Sep 17 - 25 - Oct 1 price swing
A key short-term resistance in GBPUSD at the 20-day EMA, at 1.3212, remains intact for now. It has been pierced, a clear break of it would signal scope for a stronger corrective phase and expose the 50-day EMA, at 1.3314. Moving average studies continue to highlight a dominant downtrend. A reversal would signal the end of the correction and a resumption of the downtrend. This would open 1.2971, a Fibonacci projection.
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US: Ninth Senate Vote On Government Funding Bill Underway Shortly
The US Senate is shortly due to vote for a ninth time on the House-passed funding bill to reopen the US government. The bill is expected to fail again, with no sign of Republican or Democratic leadership engaged in discussions on an offramp to the government shutdown. LIVESTREAM
- Senate Majority Leader John Thune (R-SD) has signalled he will pursue a new strategy to ramp up pressure on Senate Minority Leader Chuck Schumer (D-NY). On Thursday, he will hold a procedural vote on the House-passed defence appropriations bill, with a view to opening conference negotiations with the lower chamber on a three-bill ‘minibus’ package.
- Thune told reporters, "We'll see if we can get on it, and then we'll see if there's an appetite for adding some other bills to it, like we did in the other mini package. So that's the plan."
- Thune hopes that by challenging Senate Democrats to vote on appropriations bills, he can reduce the rationale for keeping the government shut down. Thune likely believes that it would reflect poorly on Democrats if they block spending bills via regular appropriations.
- Appropriations Chair Susan Collins (R-ME) said, “If we can show that we can move the appropriations bills, there’s absolutely no justification or rationale for a government shutdown.”
- Burgess Everett at Semafor reported earlier that Senate Democrat whip Dick Durbin (D-IL) said: "It came to a surprise to us ... I don't know that any plan has been announced.”
US TSY OPTIONS: BLOCK: Dec'25/Feb'26 10Y Call Calendar Spread
- 5,000 TYZ5 115/TYG6 116 call spds on 2:3 ratio, 44 net vs. 113-08 at 1355:09ET
PIPELINE: Corporate Bond Update: $5B JPM 2Pt/Sans SOFR Leg Launched
- Date $MM Issuer (Priced *, Launch #)
- 10/15 $5B #JPMorgan $2B 6NC5 +63, $3B11NC10 +77 (6NC5 SOFR leg dropped)
- 10/15 $900M Eversource $600M 5Y +87, $300M 2035 tap +82
- 10/15 $500M *MAF 10Y Sukuk +95
