GBPUSD Technical Analysis Summary

Current Market Overview

The GBPUSD currency pair is currently experiencing a downward trend, with prices moving towards the 61.8% Fibonacci retracement level of the June trading range, which is identified at 1.35292. As of the latest data, the price is trading slightly above this level at 1.3533.

Key Technical Levels

Several important technical levels have been breached, indicating a bearish sentiment:

• The price has fallen below the 50% midpoint of the June trading range, which is at 1.35786.
• Yesterday's low was recorded at 1.3574.
• Last week's low was at 1.3561.

Should the price drop below the 61.8% retracement level, traders will likely target a swing area between 1.3505 and 1.3514.

Market Influences

The US dollar is strengthening against all major currencies during the US trading session, driven by concerns over inflation risks associated with tariffs. This has contributed to the bearish movement in GBPUSD.

Additionally, the bond market is showing significant activity, with the 30-year bond yield nearing the 5% mark, currently at 4.957%, having previously traded as low as 4.733% last week. The 10-year yield is also on the rise, currently at 4.423%, up by 2.8 basis points from earlier sessions.