GBPUSD has been continuing an upward momentum during today’s session. Taking a look at a weekly time-frame, one might notice that an upward move, which started several weeks ago, results from breaking above the resistance area at 1.3460. According to classical technical analysis, the path towards 1.4350 remains open. The sentiment might reverse if the currency pair returns below the mentioned 1.3460 hurdle.
The US dollar slumped today along with falling US yields. US 30-year yields have returned below 2.0% following yesterday’s spike.
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GBPUSD, weekly time-frame. Source: xStation5
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