We are seeing another round in the dollar as Treasury yields continue to rise throughout the day. The 10-year yield rose nearly 10 basis points to .32%, keeping the green house grounded. It’s another one of those buying the dollar and selling everything else as we return to the familiar story of central bank meetings over the next couple of weeks. Specifically, GBP/USD is currently down over 1.3% to 1.1081 as bearish pressure intensifies below its key hourly moving averages as previously mentioned here. This now puts the 1.1000 level back into focus, as well as the October 12 low of 1.0923. Given the fact that the pound itself lacks confidence in the UK’s rather bleak outlook, it is hard to argue against the prevailing narrative. I mentioned earlier this week: „As Britain’s youth crisis subsides, currency focus turns again to the economic outlook and the BOE outlook. On politics, Truss faces the daunting prospect of remaining in charge. As Prime Minister. The last a YouGov poll of Tory members shows that Boris Johnson is the best choice to replace Truss in a strange twist, what else can you say. „Returning to the chart, the cable is now pushed close to the 100 hourly moving average (red line) and a drop below it, making the short-term divergence rather more neutral. The 1.1200 mark and the 200 hourly moving average (blue). line ) are the next support areas to watch, and the decline will deepen the decline to 1.1000. „Besides politics, the pound is also struggling for comfort as the BOE has denied plans to extend the QT deadline on October 31. It also doesn’t offer too much reassurance to the young, who are still high, although recently appointed said British Chancellor of the Exchequer Jeremy Hunt broke the mini-budget yesterday “On balance, the pound remains difficult to watch with confidence and the daily chart also points to technical resistance through the trend line of recent tops. This suggests that technical factors also support the view of providing limited relief to the pound’s latest rally, adding to an already gloomy outlook for the fundamentals.