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GBP/USD to mimic bond yields – FXStreet

FXStreet (Barcelona) - FXStreet Editor and Analyst Omkar Godbole sees the GBP/USD pair mimicking bond yields and falling to 1.5722 levels on the break of the support at 1.58.

Key Quotes

“The pair is likely to be sold on rallies, since the markets now expect the US Federal Reserve to move first, thereby tilting the yield spread in favor of the US Dollar.”

“The pair faced rejection at 1.5950 levels today, post which it extended losses towards 1.5850 levels. A further Sell‐off can be expected towards 1.5722 levels once the pair breaches the support at 1.58 levels.”

“Technically, the pair is likely to be sold on rallies till it trades below the 200‐week average located at 1.6030.”

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