GBPUSD NOW BEARISH BELOW 1.3956 PIVOT
The British pound has started to decline lower against the greenback, hitting 1.3933, as traders move back into the U.S dollar after the 10-year bond-yield breached the key three percent level. The GBPUSD pair currently trades around the 1.3950 level, with downside pressures likely to remain while price-action trades below the pivotal 1.3956 level. With a lack of macroeconomic data during the U.S trading session, intense focus is like to remain on the U.S dollar and U.S bond yields.
The GBPUSD pair is intraday bearish while trading below the 1.3956 level, losses may now extend towards the 1.3917 and 1.3880 levels.
If GBPUSD pair moves back above the 1.3956 level for an extended period, intraday buyers may again test towards the 1.3992 resistance level.