LOOK AHEAD: UK Timeline of Events (Times GMT)
| Date | UK | Period | Event |
| 27-Mar | 0830 | - | BOE's Dhingra on inflation targeting in the UK post pandemic period |
| 28-Mar | 0700 | Feb | Retail Sales |
| 28-Mar | 0700 | Q4 | Current account balance / GDP 2nd est |
| 28-Mar | 0700 | Jan | Trade Balance |
| 31-Mar | 0930 | Jan | BOE Lending to Individuals |
| 31-Mar | - | - | DMO Quarterly Investors/GEMM consultation |
| 01-Apr | 0001 | Mar | BRC Monthly Shop Price Index |
| 01-Apr | 0915 | - | BoE's Greene on ‘UK MP/macro conjuncture’ |
| 01-Apr | 0930 | Mar | Final Manufacturing PMI |
| 03-Apr | 0930 | Mar | Decision Maker Panel data |
| 03-Apr | 0930 | Mar | Services / Composite Final PMI |
| 04-Apr | 0730 | Q2 | DMO announce Apr-Jun issuance operations |
| 04-Apr | 0930 | Mar | S&P Global/CIPS Construction PMI |
| 10-Apr | 0001 | Mar | RICS House Prices |
| 11-Apr | 0001 | - | KPMG/REC Jobs Report |
| 11-Apr | 0700 | Feb | Monthly Activity Data |
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SCHATZ TECHS: (H5) Resistance Is Intact For Now
- RES 4: 107.081 61.8% retracement of the Dec 2 ‘24 - Jan 15 bear leg
- RES 3: 107.045 High Feb 3 and a key resistance
- RES 2: 106.975 High Feb 10
- RES 1: 106.855 High Feb 12 / 21 and a key near-term resistance
- PRICE: 106.805 @ 05:57 GMT Feb 25
- SUP 1: 106.630 Low Feb 20 and a key near term support
- SUP 2: 106.600 Low Jan 31
- SUP 3: 106.515 Low Jan 30
- SUP 4: 106.435 Low Jan 15 and a bear trigger
A bull cycle that began Jan 15 in Schatz futures remains in play, marking the pullback from the early February highs as corrective - for now. However, recent weakness also highlights a bear threat and support to watch lies at 106.630, the Feb 20 low. Clearance of this level would resume a bear cycle and signal scope for a deeper retracement. For bulls, initial firm resistance to watch is 106.855, the Feb 12 and 21 high. A break would be bullish.
LOOK AHEAD: Eurozone Timeline of Key Events (GMT Times)
| Date | Time | Country | Event |
| 25-Feb | 700 | DE | GDP (f) |
| 25-Feb | 1300 | EU | ECB's Schnabel at BOE's Conference on Balance Sheet |
| 26-Feb | 700 | DE | GFK Consumer Climate |
| 26-Feb | 745 | FR | Consumer Sentiment |
| 26-Feb | 800 | ES | PPI |
| 26-Feb | EU | ECB's Lagarde & Cipollone in G20 FMs/ CB Governors meeting | |
| 27-Feb | 745 | FR | PPI |
| 27-Feb | 800 | ES | HICP (p) |
| 27-Feb | EU | M3 | |
| 27-Feb | 900 | IT | ISTAT Consumer/ Business Confidence |
| 27-Feb | 1000 | EU | Consumer Confidence, Industrial Sentiment |
| 27-Feb | 1230 | EU | Publication of MonPol Meeting Account |
| 28-Feb | 700 | DE | Import/Export Prices/ Retail Sales |
| 28-Feb | 745 | FR | HICP (p)/ Consumer Spending/ GDP |
| 28-Feb | 855 | DE | Unemployment |
| 28-Feb | 900 | DE | North Rhine Westphalia/ Bavaria CPI |
| 28-Feb | 900 | EU | ECB Consumer Expectations Survey |
| 28-Feb | 900 | DE | Baden Wuerttemberg CPI |
| 28-Feb | 1000 | IT | Flash Inflation |
| 28-Feb | 1300 | DE | HICP (p) |
GBPUSD TECHS: Bull Cycle Remains In Play
- RES 4: 1.2811 High Dec 6 ‘24
- RES 3: 1.2831 2.0% 10-dma envelope
- RES 2: 1.2767 50.0% retracement of the Sep 26 ‘24 - Jan 13 bear leg
- RES 1: 1.2691 High Feb 24
- PRICE: 1.2637 @ 06:05 GMT Feb 25
- SUP 1: 1.2563 Low Feb 19
- SUP 2: 1.2522 50-day EMA
- SUP 3: 1.2440 Low Feb 13
- SUP 4: 1.2333 Low Feb 11 and a key support
A bull cycle in GBPUSD remains in play and the pair is holding on to the bulk of its recent gains. Fresh short-term gains confirm a resumption of the uptrend and maintain the current sequence of higher highs and higher lows. An extension would strengthen the bullish condition and open 1.2767, the 50.0% retracement of the Sep 26 ‘24 - Jan 13 bear leg. Initial firm support to watch is 1.2522, the 50-day EMA.
