GBPUSD TECHS: Unwinding A Oversold Trend Condition

• RES 4: 154.80 High Feb 12 
• RES 3: 154.39 76.4% retracement of the Jan 10 - Apr 22 bear leg
• RES 2: 153.15 High Feb 14  
• RES 1: 153.00 High Oct 8
• PRICE: 152.70 @ 16:21 BST Oct 8
• SUP 1: 150.92 High Sep 26  
• SUP 2: 149.96 High    
• SUP 3: 148.46 20-day EMA  
• SUP 4: 147.84 50-day EMA

A bullish theme remains intact in USDJPY and this week’s gains reinforce current trend conditions. The move higher has resulted in a breach of the key medium-term resistance at 150.92, the Aug 1 high. The clear break of it confirms a resumption of the bull leg that started Apr 22. This paves the way for an extension towards 154.39, a Fibonacci retracement point. Initial support to watch lies at 150.92, the Aug 1 high.  

Bloomberg reports *LECORNU SAYS MACRON TO BE ABLE TO NAME NEW PREMIER IN 48 HOURS" 

"“There are possibilities for a compromise in parliament,” Lecornu said on France 2 television Wednesday. “There is an absolute majority in the national assembly that rejects a new dissolution.”"

• -6,364 TUZ5 104-06.5, sell through 104-06.62 post time bid at 1403:46ET, DV01 $250,000.
• The 2Y contract trades 104-06.5 last (-1.62) vs. 104-06.38 low.