GBP/USD came under renewed bearish pressure in the early American session and fell below 1.3500. The dollar continues to gather strength with the 10-year US Treasury bond yield rising nearly 4% and climbing toward 1.6%. Eyes on Markit Manufacturing PMI.
So far, GBP/USD has managed to stay afloat the ascending trend line coming from December 21 at 1.3500. In case a four-hour candle closes below that level, additional losses toward the next static support at 1.3460 could be witnessed before 1.3440 (50-period SMA).
In the meantime, the Relative Strength Index (RSI) indicator on the same chart is holding above 50, suggesting that sellers remain hesitant for the time being.
On the upside, 1.3550 (December 31 high) aligns as first resistance ahead of 1.3600 (psychological level) and 1.3635 (static level).
