UK DATA: Weakness in GDP broad-based but just under half of the miss may be JLR

• RES 4: 94.60 1.764proj of the Sep 3 - 11 - 26 price swing 
• RES 3: 94.24 1.618 proj of the Sep 3 - 11 - 26 price swing        
• RES 2: 94.00 Round number resistance 
• RES 1: 93.98 High Nov 4 and the bull trigger  
• PRICE: 93.87 @ Close Nov 11
• SUP 1: 93.09/75 20-day EMA / Low Nov 10      
• SUP 2: 92.38 Low Oct 20
• SUP 3: 92.36 50-day EMA 
• SUP 4: 91.82 High Sep 11   

The trend theme in Gilt futures remains bullish and this week’s strong bounce - so far - reinforces a bull theme. Note that moving average studies are in a bull-mode position, highlighting a dominant uptrend. Sights are on the bull trigger at 93.98, the Nov 4 high. A clear break of this hurdle would confirm a resumption of the uptrend and open 94.24, a Fibonacci projection. Support to watch lies at 93.09, the 20-day EMA. 

• RES 4: 123.14 1.764 proj of the Sep 3 - 11 - 25 price swing
• RES 3: 122.81 1.618 proj of the Sep 3 - 11 - 25 price swing
• RES 2: 122.53 1.500 proj of the Sep 3 - 11 - 25 price swing
• RES 1: 121.94 High Oct 17 / 22 and the bull trigger  
• PRICE: 121.34 @ Close Nov 11
• SUP 1: 120.74 High Aug 5 and a recent breakout level          
• SUP 2: 120.71 50-day EMA 
• SUP 3: 120.13 Low Oct 10 
• SUP 4: 119.48 Low Oct 7

The trend set-up in BTP futures is unchanged and conditions remain bullish. Recent weakness appears corrective - the move down since Oct 22 appears to be flag formation, a bullish continuation pattern. Note too the moving average studies are in a bull-mode position, highlighting a dominant uptrend. The bull trigger is 121.94, the Oct 17 / 24 high. Initial firm support to watch is 120.74, the Aug 5 high.

• RES 4: 180.37 1.500 proj of the Jul 31 - Sep 29 - Oct 2 price swing  
• RES 3: 180.00 Psychological round number
• RES 2: 179.73 1.382 proj of the Jul 31 - Sep 29 - Oct 2 price swing
• RES 1: 179.15 Intraday high 
• PRICE: 179.11 @ 07:03 GMT Nov 12 
• SUP 1: 177.05/175.52 20- and 50-day EMA values
• SUP 2: 174.82 Low Oct 17 
• SUP 3: 173.98 Bull channel support drawn from the Feb 28 low   
• SUP 4: 173.92 Low Oct 6 and a gap high on the daily chart  

The trend in EURJPY remains bullish and today’s gains reinforce current conditions. The cross has cleared the bull trigger at 178.82, the Oct 30 high, to confirm a resumption of the medium-term uptrend. Note too that moving average studies are in a bull-mode position, highlighting a dominant uptrend. Sights are on 179.73, a Fibonacci projection, and the 180.00 psychological handl. First support lies at 177.05, the 20-day EMA.