- DXY is up 0.82%, near multi-year highs.
- US yields rise further, 10-year returns above 3.0%-.
- GBP/USD falls for fourth day in a row, below July lows.
The GBP/USD continued to fall and hit a new two-year low at 1.1736. She is losing pressure amid a stronger US dollar and risk aversion.
Yields up, stocks down sharply
Stock prices on Wall Street are falling sharply. The Dow Jones is at a 12-day low, down 1.44%, and the Nasdaq is down more than 2%. The FTSE 100 lost 0.22%.
Despite risk aversion, Treasuries add to last week’s losses. The US 10-year yield stands at 3.02%, the highest level since July 21, and the 30-year yield at 3.25%, the highest since July 8. The dollar index is testing 109.00, up 0.82%, on its way to the highest daily close since September 2002.
Expectations of more aggressive Fed tightening keep the dollar in demand ahead of the Jackson Hole symposium. On Friday, Jerome Powell will make a speech. A 50 basis point rate hike is fully anticipated, although a 75 basis point rate hike is also likely according to money markets.
Below 1.1740, the next support could be seen around 1.1710 and then not much until 1.1630. The 2020 low awaits near 1.1400, but before that a strong zone lies at 1.1450. To the upside, 1.1795 has become immediate resistance, followed by 1.1835 (22 Aug high).
Technical levels
GBP/USD
Panorama | |
---|---|
Last Price Today | 1.1755 |
Today’s Daily Change | -0.0073 |
Today’s Daily Change % | -0.62 |
Today’s Daily Opening | 1.1828 |
Trends | |
---|---|
20 Daily SMA | 1.2102 |
50 Daily SMA | 1.2088 |
100 Daily SMA | 1.2369 |
200 Daily SMA | 1.2876 |
levels | |
---|---|
Previous Daily High | 1.1937 |
Previous Daily Minimum | 1.1792 |
Previous Maximum Weekly | 1.2148 |
Previous Weekly Minimum | 1.1792 |
Monthly Prior Maximum | 1.2246 |
Previous Monthly Minimum | 1,176 |
Daily Fibonacci 38.2% | 1.1847 |
Daily Fibonacci 61.8% | 1.1882 |
Daily Pivot Point S1 | 1.1768 |
Daily Pivot Point S2 | 1.1708 |
Daily Pivot Point S3 | 1.1623 |
Daily Pivot Point R1 | 1.1913 |
Daily Pivot Point R2 | 1.1998 |
Daily Pivot Point R3 | 1.2058 |
Source: Fx Street

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