Rise beyond 1.17% unlikely for 2-yr GBP swap

DeMark indicators suggest that the recent rally of the GBP 2-year swap rate is likely to exhaust in the short-term, according to Tim McCullough at Lloyds Bank. The rally from 0.55% in April last year should re-test 1.17% completing a TD Sequential 13 pattern. Targets after that are 0.71%-0.99%.

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