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GBPUSD tests low/61.8% retracement as London traders look to exit

Correction higher stalled near 200 bar MA on 4-hour chart

The GBPUSD is back down testing the 61.8% retracement of the move up from the October 25th low as London traders look to exit. The dollar continues to be bid as yields in the US rise. The 10 year note yield has moved above the 2.30%. That was the high earlier this week. The current yield is at 2.3243%. The high reached 2.3387%. Last week DoubleLines bond guru Jeffrey Gundlach said he expeted yields to top out at around 2.35%.

On a break of the 1.23077 in the GBPUSD, the next target would look toward the 1.2275-80 area.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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