Here you can see where the money from the euro area flows, among other things. Nobody talks about it and the media sell the "EU people" once again for stupid and tell corresponding fairy tales.
The high of the Euro in the third week of February marks the low of 10-year British government bonds.
The first of March low in the euro with 1.2124 marks the blue 1 high...
Bonds are holding at the minor projection at 121.72. Due to the underlying bearish momentum we expect a continuation towards the much more important targets at respectively 116.82 and 108.90. Note that this latter level is virtually equal to multiple pivots of 2013-2014.
We maintain our strong negative stance versus bonds. Only a recovery above 125125.20 can...
The title and the weekly chart itself tell the whole story.
I really hope for a bounce to 126.40, would be more comfortable to take this short there. But as this is probably one of the best trades for the long term supported by fundamentals too, I would not mind to sell the weekly break below 124 either.