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  • $USD fresh 2021 high didn't get much traction on the first test above resistance, but it's been quite the move since last week. Friday should be a big day for the USD - PCE, ISM and Sentiment numbers https://t.co/TfIp6Z8mBr https://t.co/qtFaKzxHIJ
  • Gold and silver not having a good day so far, rising US Treasury yields is a headwind for precious metals and non-interest bearing assets in general #trading $XAUUSD $XAGUSD
  • US 10-YEAR YIELD RISES TO 1.53%, LAST WEEK IT WAS SITTING BELOW 1.30%. THE RAPID INCREASE IN TREASURY RATES IS BAD FOR TECH STOCKS, NASDAQ AT RISK, $ARKK COULD ALSO SUFFER HEAVY LOSSES #TRADIDG $NDX
  • there it is $USDJPY up for a test of the 2021 high fibo level at 111.61, next major level at 112.50 this zone has held the highs in 2019, 2020 and so far in 2021 https://t.co/PwShmUDOn0 https://t.co/in6dnrIq0Q
  • ...let's see how far the brinkmanship goes and whether the rating agencies feel a rating downgrade is necessary for the constant pressure on its finances
  • - Financial markets have brought forward prospects for BoE tightening into 2022, this is not supportive for inflation surge
  • Treasury Secretary Yellen will no doubt be touching on this at today's Senate Finance Committee meeting, but she has sent a formal letter to Congress to say the US will likely hit its debt ceiling by October 18th
  • US likely to hit debt ceiling by October 18th - Treasury Secretary Yellen
  • - Signal from 5y5y inflation measures is not troubling
  • BoE's Mann - Price growth for natural gas is pretty extreme, but need to look if it will continue $GBP
British Pound Remains a Sell until we see this Change

British Pound Remains a Sell until we see this Change

David Rodriguez, Head of Product
British Pound Remains a Sell until we see this Change

NEW: View Real-Time SSI Updates via the FXCM Trading Station Desktop

GBPUSD Retail forex traders have bought steadily into British Pound weakness, and a contrarian view of crowd sentiment acts as signal that the GBP/USD may continue lower. Continued failure to break above $1.5650 leaves the next near-term target at support in the $1.54-1.55 range, and we’ll remain bearish until we see a material shift in FX sentiment.

See next currency section:USDJPY - US Dollar Expected to Gain Further versus Japanese Yen

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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