Market News / Story
GBP/USD — Pound Nears Long-Term Support at $1.3180 as Rising Channel Faces Test
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Sterling has lost nearly 500 pips since August 21. A long-term support line now offers buyers a potential rebound — or sellers their next breakdown. Dollar strength pushes sterling toward support The pair traded around $1.3210–$1.3220 Friday morning, its weakest level since late June. Sterling has fallen 3.5%, or almost 500 pips, since August 21 as higher US yields and increasingly hawkish Fed expectations boosted the dollar. The 10-year Treasury yield has climbed…