Two trades to watch: S&P500, GBP/USD
Fiona Cincotta February 26, 2021 8:11 AM
Rising yields drag on S&P 500 boost USD, GBP/USD eyes 1.39
Rising yields drag on S&P500
US treasury yields rose to 1.6% the highest level since February 2020, taking the shine off stocks and boosting the USD. Today’s yields have eased back slightly to 1.5%.
The S&P 500 has bounced off support of the lower channel of the ascending channel and horizontal support at 3805, today’s low. A move below this level is needed for the bears to target a much deeper selloff towards 3665 the yearly low.
GBP/USD heads for 1.39
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