Gilts held 111.85 support & failure to quite fill the gap at 112.24/26 signals further downside pressure this week. Immediate support is 111.85 but a
Gilts September contract Daily Forecast - 13 August 2014Gilts held 111.85 support & failure to quite fill the gap at 112.24/26 signals further downside pressure this week. Immediate support is 111.85 but a break lower is more negative. Go with the break for a move towards 111.66 then good support at 111.56/53 which should hold the downside. However on a break lower look for a buying opportunity at 111.27/25 this week.
A high for the day possible at 112.21/26 again today but a break higher could then target 112.46/51. A break above 112.60/62 could then lead to a retest of Friday’s high & resistance at 112.80/85 which is expected to hold a move higher again this week.
FX Empire editorial team consists of professional analysts with a combined experience of over 45 years in the financial markets, spanning various fields including the equity, forex, commodities, futures and cryptocurrencies markets.
