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Forex Flash: Gilts poised for sideways trading – RBS

By FXstreet.com,  January 10, 2013, 08:07:00 AM EDT

FXstreet.com (Barcelona) - Gilts pricing seem to be heading into a period of sideway movement after bouncing from 115.67, the level of the 38.2% Fibonacci retracement from the March-June 2012 extremes.

Moreover, "Retracements from this move and recent selloff would be likely to provide range boundaries for the near term, which are 116.60 and 117.37. If an upside break occurs, the move could continue to 118.00, where polarity line and 61.8% retracement of the recent selloff lie." writes Dmytro Bondar, a technical markets strategist at RBS. Should 116.60 be broken, the price would be likely to re-test 116.00/115.75 support zone.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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