Technical Analysis
GBPUSD have big potential to sell around 1.27700. This particular area have big resistance or rejection from the previous level higher time frame, it means lots of buyers took profit and sellers decided to involve in. Based on volume indicator the momentum for buyers is weakening.
Fundamental Analysis
The 10-year Treasury yield
hit 4% following the jobless claims data, a level seen before the disappointing July jobs report Friday sent markets reeling.
Also aiding markets Thursday was a weaker Japanese yen versus the U.S. dollar. A yen surge that caused the unwinding of a popular so-called carry trade with hedge funds was a main culprit cited for Monday’s stock drop.
“This is the bounce people were waiting for. So now what we’ve learned is we’re not going to bounce just for bouncing’s sake. We need good news in order to move forward and in order to prove that the rally is durable,” SoFi head of investment strategy Liz Young Thomas told CNBC’s “Closing Bell” on Thursday. DISCLAIMER: The information on this analysis is based on research and experience, and it is not guaranteed to be accurate