The Pound Sterling is experiencing slight losses against the US Dollar, largely due to the influence of high US Treasury yields that are bolstering the Greenback.
GBP/USD dips slightly as higher US Treasury yields bolster the US Dollar, following upbeat US data. Technical analysis shows GBP/USD at a pivotal point, with the potential to rise toward 1.2500 if it breaks past the April 23 high of 1.2458. Key downside risks include a retreat to 1.2400 and possibly further to the April 22 low of 1.2299 if current resistance holds firm.
2561, followed by 1.2600. On the other hand, if GBP/USD remains constrained by the April 23 high, that could pave the way for a retracement to 1.2400. A decisive break would expose April 22 low at 1.2299, which, once surpassed, could open the door to test an upslope support trendline drawn from March 2023 lows that pass at around 1.2250/60. GBP/USD Price Action – Daily Chart GBP/USD Overview Today last price 1.2441 Today Daily Change -0.0008 Today Daily Change % -0.06 Today daily open 1.
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