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Technical analysis for the 10-year UK bond yield, the yield broke above the highs from 2020 and May 2021 and started a bullish wave on the weekly chart. The first target for this bullish wave is the 100% FIB extension at 1.340%. The second target for the bulls of 10-year UK bond yield is the 1.272 FIB extension at 1.575%. And the third target for this bullish wave is the 1.618 FIB extension on the weekly chart at 1.870%.
The supports levels, which one must watch for the 10-year UK bond yield, are the low on the weekly chart at 0.681% and the support at 0.500%.
Weekly chart:
