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Aug 17 - 08:55 PM

GBP/USD - Fast Rising Gilt Yields Continue To Support

By Andrew M Spencer  —  Aug 17 - 07:50 PM
  • Steady after closing up just 0.1%, with the U.S. dollar unchanged

  • Rising gilt yields support, as yields higher for longer gains traction

  • 10yr gilt touched 4.775%, highest since 2008, and closed up 8bp to 4.727%

  • Techs; neutral daily momentum studies, 21-day Bollinger bands contract

  • 5, 10 & 21-day moving averages coil - daily signals show little bias

  • Well tested 1.2627, 61.8% of the May/July fall is pivotal support

  • The New York 1.2726-1.2788 range is initial support and resistance

  • 1.2700 636 mln and 1.2785 446 mln are the close strikes for August 18th

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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