HALISTER1: GBP 2Y Swap May Rise to 67bps Gap Zone Amid BOE Inaction: Charts

GBP 2Y Swap May Rise to 67bps Gap Zone Amid BOE Inaction: Charts

(Bloomberg) -- GBP 2-year swap rate may extend rise toward Brexit day breakdown area of 66/68bps as downside momentum has abated, Bloomberg technical analyst Sejul Gokal writes.
  • See chart
  • Upside target at 66/68bps -- June 24 high, June 14 low; additional Fibonacci resistance at 70bps
  • MACD crossing higher from extreme lows
  • Slow-stochastics rising and configured bullishly
  • This past week’s TD combo 13 ‘buy’ and the DeMark perfected buy-setup on the weekly chart in the period through July 8 also helps keep s-t focus higher
  • NOTE: GBP-USD 2Y Swap Spread bouncing from 2008 Trendline
  • NOTE: GBP/USD spot may squeeze to 1.35-1.36: MORE
  • NOTE: Sejul Gokal is a technical strategist who writes for Bloomberg. The observations he makes are his own and are not intended as investment advice.
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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