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.
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. This trend was fueled by the release of economic data, which showed that Durable Goods exceeded expectations, leading to a surge in US yields and a favorable environment for the USD. The GBP/USD is currently trading at 1.2444, reflecting a 0.04% decrease.
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