Forex Flash: Gilts target upside breakout – RBS

According to Technical Markets Strategist Dymtro Bondar at RBS, “The price of Gilts has been testing 20-day MA, however it didn’t manage to break this region and instead stayed in the range of 115.90 – 116.75, as momentum remained neutral (the 20/5/5/3 slow stochastic is slightly oversold, though that is not a strong indication of extreme conditions).”

“While there are no clear signals suggesting a break in either direction, a continuation of the range is expected for the time being. However, as the 20-day MA has been the main technical limiting factor, if it gets broken, an upside move to 117.00/20 can be triggered.” Bondar notes.