GBP/USD: Pound trading lower, ahead of the BoE Governor’s speech


GBPUSD Movement

For the 24 hours to 23:00 GMT, the GBP declined 0.16% against the USD and closed at 1.3433.

In the Asian session, at GMT0300, the pair is trading at 1.3419, with the GBP trading 0.10% lower against the USD from yesterday’s close.

The pair is expected to find support at 1.3388, and a fall through could take it to the next support level of 1.3356. The pair is expected to find its first resistance at 1.3454, and a rise through could take it to the next resistance level of 1.3488.

Moving ahead, all eyes would be on a speech by the Bank of England’s (BoE) Governor, Mark Carney, due in a few hours. Also, the release of UK’s public-sector net borrowing data for April, will be on investors’ radar.

The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.

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