GBP/USD is lately looking to settle below EMA 20 at 1. 3885, while the US dollar is gaining ground against a giant basket of currencies.
The US dollar index has not stabilized below the 92. 15 point and is looking to expand a up momentum. If this attempt succeeds, the US dollar index will move towards the resistance point at 92. 40, which will be bearish for GBP/USD.
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Currently, no significant economic reports are expected in the U. S. U. S. And the UK, so currency investors will rely on general market sentiment and the dynamics of US government bonds. U. S.
Treasury yields have fallen recently and the yield on 30-year Treasuries has been controlled to fall below 2. 00%. Lower yields have put some pressure on the U. S. currency in recent trading sessions.
If Treasury yields continue to fall, it is possible that the US dollar will be under further stress, it remains to be seen whether this tension will be significant, as traders’ appetite for safe-haven assets appears to be increasing.
GBP/USD failed to settle above the resistance at 1. 3900 and retreated to the point at EMA 20 at 1. 3885. If GBP/USD manages to stabilize below this point, it will head to the next at 1. 3865.
A successful check of the at 1. 3865 will pave the way for the check of the at 1. 3835. If GBP/USD falls below this point, it will move to the next point at 1. 3800.
On the upside, the nearest resistance point for GBP/USD is at 1. 3900; if GBP/USD exceeds this point, it will move towards the next resistance point at 1. 3920; if GBP/USD manages to settle above the resistance at 1. 3920, it will head towards the resistance point which is at 50 EMA near 1. 3945.
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