After several days of price increase, GBPUSD has returned to its downward trend. It is currently trading at 1.2167 as of the time of writing, with a short-term recovery.
The adjustment of the US 10-year Treasury bond yield lower, after increasing by over 3% on Thursday, has made it difficult for the USD to appreciate based on recent gains.
Due to this reason, buyers will continue to push this currency pair higher, with an expected increase between 1.2308 - 1.2415, supported by the trendline and strong support level at 1.2121. What are your thoughts on this article? Please leave your comments below!