GBP/USD has been benefiting from falling US bond yields but the cable is far from safety as another US bond auction may trigger a reversal, Yohay Elam, an Analyst at FXStreet, reports. See: GBP/USD to test the recent high at 1.4017 – Credit Suisse Key quotes “Uncle Sam is now selling 30-year bonds – which may already see weaker demand. An increase in returns on US debt linked to mortgages may send shivers down investors’ spines and boost the greenback.” “President Joe Biden has yet to sign the $1.9 trillion covid relief package approved by Congress, and new plans have already surfaced. The administration is reportedly examining a $2.5 trillion infrastructure bill, which may receive some Republican support for a change. If additional headlines lay the ground for further spending, that would also push yields and the dollar higher.” “Pound/dollar is heading towards the 100 Simple Moving Average on the 4-hour chart, which converges with the daily high of 1.3965. Momentum is to the upside and the pair already topped the 50 SMA. All in all, bulls are in the lead, but resistance remains significant.” “Above 1.3965, the next hurdle is 1.4015, followed by 1.4050 and 1.4075.” “Some support awaits at 1.3925, a swing high from earlier this week, followed by 1.3850, 1.3830 and 1.3775 – a strong support line.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US Dollar Index Price Analysis: Next support of note comes in at 91.00 FX Street 1 year GBP/USD has been benefiting from falling US bond yields but the cable is far from safety as another US bond auction may trigger a reversal, Yohay Elam, an Analyst at FXStreet, reports. See: GBP/USD to test the recent high at 1.4017 - Credit Suisse Key quotes "Uncle Sam is now selling 30-year bonds - which may already see weaker demand. An increase in returns on US debt linked to mortgages may send shivers down investors' spines and boost the greenback." "President Joe Biden has yet to sign the $1.9 trillion covid relief package approved by Congress, and new plans… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.