US yields increased following better-than-expected ISM PMI manufacturing and JOLTs data. The US 10-year yield rose by 2 basis points, reaching 4.248%. As a result, the USD also strengthened.

The GBPUSD pair is now testing the 100-hour moving average, experiencing a decline for the day. Meanwhile, EURUSD is trending towards unchanged levels after the recent data. There is a support range between 1.1753 and 1.1769; a break below this range might encourage more selling in the short term. An important target for sellers would be the rising 100-hour moving average at 1.1720.

Market Response To Data

What we’ve seen so far is a fairly straightforward response to the latest macroeconomic data: when new readings on US factory activity and job openings outpaced expectations, the market quickly adjusted. Yields on longer-dated Treasuries nudged slightly higher, with the 10-year moving to 4.248%. That’s not a dramatic move, but it’s enough to suggest that there’s at least some pull toward reassessing interest rate expectations. The dollar gained, following that momentum.

Sterling, in particular, has not responded well. After a daily drop, it’s now pressing against the 100-hour moving average. That’s often seen as a technical marker for short-term direction, and crossing below can bring in further pressure from algorithmic selling or stop loss triggers. The tone here appears to be setting up for a range-test into the lower levels again, especially if the dollar holds up during the week.

In euro terms, the reaction has been more neutral. It’s slipped a bit but found footing near a familiar support zone – between 1.1753 and 1.1769. Beneath that, a move towards the 100-hour moving average at 1.1720 could be next. That level becomes particularly relevant given recent price memory and the fact that it coincides with where short-term buyers had stepped in earlier in the month. If that line gives way, downside momentum could build swiftly.

From where we stand, short-term participants will likely lean closer to momentum, using these technical levels as guides. There’s not much patience in current price action; the bid is either confirmed or abandoned quickly. What’s also clear is that any soft signal from economic data—or fresh policy talk—may not wait long to show up in charts. In terms of position building, there’s little use in second-guessing when buyers and sellers are willing to draw lines with such clarity.

Short Term Trading Strategies

Volatility remains contained, but directional conviction is creeping back in. We are keeping a close watch on how price moves react at these moving average levels, as they continue to attract flow during high-volume sessions. If fades off strength become deeper or wicks near support get sold more aggressively, that would be telling us something sharp about near-term bias. Timing entries on shorter-term momentum and being alert for quick reversals remains a high-value approach under these conditions.

It’s not about second-guessing anymore—it’s about reacting with readiness.

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