Very short term the Body gap on the Gilt Future between last weeks and this week’s candle should be observed. If it closed a larger rebound to 105-109 level could be seen i.e., a rebound to 0.618 retracement of the past couple of weeks sell-off and the 0.382 retracement of the past 12 months downtrend, with some resistance at 105. Strong resistance at 109.89. That level is key.
The current candle on weekly could be forming a Hammer (the Body of the candle must be at least twice the length of the lower shadow to become a Hammer, and no or very little upper shadow – similar picture on GBPUSD as described a couple of days ago).
If Gilt does not form a Hammer and does not close the gap selling pressure is likely to quickly resume pushing Gilt below 91 i.e., higher yields.