GBPUSD Chart Technical Outlook set to toward 1.3076 as US Dollar benefits from higher yields
US traders are returning from their long weekend today, and the Greenback is already rising. After slow trading on Monday, the increase in US 10-year Treasury yields is weighing on GBP-USD. While the Federal Reserve is on course to cut rates, markets expect a week packed with upbeat data from the world’s largest economy.
GBP/USD has dipped below the 4h-50 SMA, and is getting close to support at 1.3110. The next line to watch is close: 1.3076, and then 1.3011. Resistance is at 1.3198, then 1.3267. The broad trend remains to the upside, but I expect another day of pressure.
