Gilts unable to beat the 200 day moving average and turned lower as predicted breaking 109.72 to hit next target and support at 109.57/55. We bottomed exactly here as expected and a good chance we do so again today but longs need stops below 109.46 for a test of the next support at 109.34/30.
Above 109.78/80 offers a chance to retest the 200 day moving average at 109.95/110.00. Only a break and close above here is more positive for the end of the week. We then run in to 8 month trend line resistance and last week's high at 110.16. Above here is obviously positive and targets March highs at 110.25/32.