Typically, a currency pair like GBP/USD would potentially rise with a decline in Treasury yields, as lower yields can decrease the relative value of the dollar. However, geopolitical tensions in the Middle East seem to be providing an upward push to the dollar's value against the GBP, leading to a decline in the GBP/USD pair. This situation indicates a complex interplay between geopolitical events and economic indicators, where the latter's usual impact is being overridden by the former.