UK 10-year Gilts: Still lots of potential
Bonds are holding at the minor projection at 121.72. Due to the underlying bearish momentum we expect a continuation towards the much more important targets at respectively 116.82 and 108.90. Note that this latter level is virtually equal to multiple pivots of 2013-2014.
We maintain our strong negative stance versus bonds. Only a recovery above 125<>125.20 can ease pressure. Such a recovery is currently unlikely.
Primary trend: negative
Outlook: negative
Strategy: hold short and/or short-entry bonds
Support: 121.72 / 116.82* / 108.90
Resistance: 123.30 / 125.10+
Outlook cancelled/neutralized: above 125.10
UUK10YBGBP
We maintain our strong negative stance versus bonds. Only a recovery above 125<>125.20 can ease pressure. Such a recovery is currently unlikely.
Primary trend: negative
Outlook: negative
Strategy: hold short and/or short-entry bonds
Support: 121.72 / 116.82* / 108.90
Resistance: 123.30 / 125.10+
Outlook cancelled/neutralized: above 125.10
UUK10YBGBP
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.