UK Yield Rose 20% With September Might Supporting Pound

The UK 10YR Government Bonds Yield trades around 0.74% and fell by about 1% in today’s trading session. The yield testing a previous distribution which might serve as resistance.

The new month rose by about 20% higher and might support the pound. The cable (GBP/USD) rose about 0.5% through the whole Quarterly value area, testing levels of resistance. Looking at the monthly the proud might target upside rotations towards the bracket highs. An hourly downtick around the current areas might be handled as an RHS position by some traders.

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