British Pound Selloff Stalls at Support as Yields Cool Off

British pound support at the bottom of its yearly range has held for a fourth straight week as easing Treasury yields give sterling some relief. Michael Boutros, StoneX Media Senior Market Analyst, walks through GBP/USD on the weekly, daily and four-hour charts. Weekly RSI has held above 40 since January of last year, through four weekly tests of support. The monthly opening range on GBP/USD is contracting, with lower highs and higher lows defining both sides of the trade. With U.S. Treasury yields pulling back from multi-decade highs, U.S. CPI and PPI data now have the potential to shift Federal Reserve rate expectations. Discover Actionable Insights with the latest Market Outlook Reports: https://intel.stonex.com/offer?language=en&campaignId=A908C315-DC62-4F35-AC16-870BB71E84D1&utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_michael_boutros&utm_content=share 00:00 - Pound Tests Its Yearly Floor 00:49 - Treasury Yields Give Pound Air 01:07 - Weekly RSI Defends the 40 Line 01:29 - Monthly Opening Range Coils 02:42 - Lower Highs Meet Higher Lows 03:56 - U.S. CPI Tests Fed Rate Odds Like and subscribe for more financial market insights. #StoneX #MichaelBoutros #GBPUSD #Forex --------- Like this video? Subscribe and turn on notifications so you don't miss any videos from StoneX: https://www.youtube.com/@stonex_official Visit https://www.stonex.com/en/insights/thought-leadership/?utm_source=youtube&utm_medium=social for insights, perspectives and thought leadership from StoneX's global network of experts. Visit our website: https://www.stonex.com?utm_source=youtube&utm_medium=social