A computer system for executing instructions having assigned guard indicators, comprises instruction supply circuitry, pipelined execution units for receiving instructions from the supply circuitry together with at least one guard indicator selected from a set of guard indicators, the execution unit including a master guard value store containing master values for the guard indicators, and circuitry for resolving the guard values in the execution pipeline and providing a signal to indicate whether the pipeline is committed to the execution of the instruction, and an emulator having watch circuitry for effecting a watch on selected instructions supplied to the execution pipeline and synchronising circuitry for correlating resolution of the guard indicator of each selected instruction with a program count for that instruction.