LOOK AHEAD: UK Timeline of Key Events (Times BST)
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GBPUSD TECHS: Remains Above Last Week’s Low
- RES 4: 1.3681 High Jul 4
- RES 3: 1.3636 76.4% retracement of the Jul 1 - Aug1 downleg
- RES 2: 1.3595 High Aug 14 and a bull trigger
- RES 1: 1.3555 High Sep 5
- PRICE: 1.3499 @ 06:20 BST Sep 6
- SUP 1: 1.3417/3333 Low Sep 4 / 3
- SUP 2: 1.3315 61.8% retracement of the Aug 1 - 14 bull leg
- SUP 3: 1.3249 76.4% retracement of the Aug 1 - 14 bull leg
- SUP 4: 1.3142 Low Aug 1 and a key support
GBPUSD is holding on to the bulk of its latest gains following the recovery from last Wednesday’s low. The move higher appears corrective - for now. Recent weakness resulted in a breach of 1.3391, the Aug 22 low. This signals scope for a deeper retracement and exposes 1.3315 next, 61.8% of the Aug 1 - 14 bull leg. On the upside, clearance of 1.3595, the Aug 14 high, is required to reinstate a bull theme.
LOOK AHEAD: Eurozone Timeline of Key Events (Times BST)
| Date | Time | Country | Event |
| 08-Sep | 0700 | DE | Trade Balance / Industrial Production |
| 09-Sep | 0745 | FR | Industrial Production |
| 10-Sep | 0800 | ES | Industrial Production |
| 10-Sep | 0900 | IT | Industrial Production |
| 11-Sep | 1315 | EU | ECB Rate Decision |
| 11-Sep | 1345 | EU | ECB Press Conference |
| 11-Sep | 1515 | EU | ECB Lagarde Presents Rate Decision on ECB Podcast |
| 12-Sep | 0700 | DE | Germany CPI (f) |
| 12-Sep | 0745 | FR | HICP (f) |
| 12-Sep | 0800 | ES | HICP (f) |
| 12-Sep | 1000 | EU | Labour Market Quarterly Statistics |
| 15-Sep | 1000 | EU | Trade Balance |
| 15-Sep | 1910 | EU | ECB Lagarde at Institut Montaigne Paris |
| 16-Sep | 0900 | IT | HICP (f) |
| 16-Sep | 1000 | DE | ZEW Current Expectations Index |
| 16-Sep | 1000 | EU | EZ Industrial Production |
BOBL TECHS: (Z5) Bullish Structure
- RES 4: 118.635 1.500 proj of the Aug 25 - 28 - Sep 2 price swing
- RES 3: 118.561 1.382 proj of the Aug 25 - 28 - Sep 2 price swing
- RES 2: 118.469 1.236 proj of the Aug 25 - 28 - Sep 2 price swing
- RES 1: 118.350 High Sep 5
- PRICE: 118.200 @ 05:12 BST Sep 6
- SUP 1: 117.920 Low Sep 4
- SUP 2: 117.690 Low Sep 2
- SUP 3: 117.630 Low Aug 25 and a key short-term support
- SUP 4: 117.481 123.6% retracement projection of Aug 25 - 28 rally
Bobl futures rallied Friday. The contract has breached resistance at 118.260, the Aug 28 high. A breach of this level undermines the recent bearish theme and signals scope for a stronger recovery towards 118.469, a Fibonacci projection. On the downside, initial support to watch lies at 117.920, the Sep 4 low. A break of this level would highlight a reversal and instead expose 117.690, the Sep 2 low.
