The GBPUSD continues to trend to the downside as it stretches toward the next target at the 61.8% retracement of the June trading range. That level comes in at 1.35292. The current price is trading just above that level at 1.3533. Below that level and traders will look toward a swing area between 1.3505 and 1.3514.
Technically, the price is also fallen below the
- 50% midpoint of the June trading range at 1.35786
- The low from yesterday at 1.3574.
- The low from last week at 1.3561.
The US dollar is rising versus all the major currencies in the US session. Traders are anxious about the risks on inflation from the tariffs.
The 30-year bond yield is approaching the 5% level. Currently, it is at 4.957%.. It traded as low as 4.733% last week.
The 10 year yield is currently at 4.423% of 2.8 basis points. A traded as low as 4.187% at session was last week.
