GBP/USD remains under pressure near 1.3200 as the currency pair marks ten consecutive sessions of testing support amid a broader bond market selloff.
The GBP/USD pair is facing persistent downward pressure, evidenced by the currency pair testing the 1.3200 support level for ten consecutive sessions since September 24. The inability to sustain rallies, as seen by the pair trading below the starting point of Tuesday's upward move, suggests a lack of bullish momentum and a potential breakdown of the current trading range.
The 1.3200 level has acted as a consistent floor for the pair across every trading session since September 24.
The trend appears bearish as the pair is struggling to maintain gains and is repeatedly testing the bottom of its recent range near 1.3200.
The British Pound struggles to maintain momentum, testing the 1.3200 support level for the tenth consecutive session. Renewed volatility in the bond market continues to weigh on Sterling, keeping the pair anchored near the bottom of its recent trading range.
The pair is facing persistent selling pressure driven by a resumed bond market selloff, which has kept the currency anchored at the bottom of its recent range.