Potential symmetrical triangle break out (or ascending triangle formation) may be in the making if a monthly close above 4.632% is observed.

UK’s 10 year yield has been tapping higher since September 2024 and has successfully penetrated and closed above the upper neckline at 4.6320% on a weekly basis. To remove any false breakouts our technical analysis suggests a monthly close above this pivot level to confirm the formation.

Once confirmed the equal distant target of this technical setup reaches 6.36%!

Stay tuned in for updates regarding the continuation!