Gilts key to today's direction is important support at 119.39/35. Although yesterday's action was very negative we are oversold and this is good support, so could still hold today. However be ready to go with a break lower to target 119.20/17 then 119.05/00. Any further losses risk a slide to 118.80/70 then 118.58/55.
Above 119.55 is slightly more positive and can target resistance at 119.72/82. If this does not hold a move higher we may take it as far as 120.04/08. We can try shorts here with a stop above 120.20. Any further gains meet an excellent selling opportunity at 120.38/43.