Gilt Yields May Face Deeper Setback Risks After Supports Break
- Double-top pattern and drop below moving average signal slide
- Attention may fall on retracement drawn from low in August
This article is for subscribers only.
Yields on U.K.’s 10-year gilts seem poised to go lower after closing below a critical moving average and forming a double top, chart patterns show.
The benchmark yield closed at 1.21 percent last week, below its low for December and the medium-term average line at 1.25 percent-1.22 percent. It concluded a double top last month. The patterns leave it vulnerable to a descent toward 1.10 percent-1.05 percent.