Cyprus would extend capital control for seven more days

Gilts consolidated near the 118.61 Fibonacci level and gap support, as well as approaching the trend-line after forming an outside session on Friday. According to Dymtro Bondar, a Technical Markets Strategist at RBS, “The overall picture suggests risks are skewed to the downside with high likelihood of correction to 118.37 and possibly 118.02 should the first support of 118.61 be broken (the 123.6% Fibonacci projection from the March impulse wave).”