Technical Forecast for Gilt

Gilts broke 111.80 to retest last week’s low at 111.26/23 as expected. The outlook is quite negative still so any longs need stops below July’s low at 111.17 for 110.90 then a test of June lows at 110.48/33.

 

Resistance at 111.75/80 then 112.00/02 & we should struggle here again today. However above here look for the short term Fibonacci & trend line resistance at 112.16/20. Only a break above yesterday’s high at 112.27 allows further gains towards 112.50/57 for a selling opportunity with stops above 112.70.