GBPUSD ONLY INTRADAY BEARISH BELOW 1.4146 LEVEL

The British pound has started to give back recent trading gains against the U.S dollar, after repeated technical price-failures above the key 1.4200 level on Wednesday. The GBPUSD pair currently trades around the 1.4170 level, and is currently under slight selling pressure from the bearish double-top pattern formation. Traders now look towards a scheduled speech from BOE Governor Mark Carney later today, and the 1.4146 pivotal level for directional guidance.

• The GBPUSD pair only retains its intraday bullish bias while clearly trading above the 1.4146 level, key technical resistance is now found at the 1.4222 and 1.4243 levels.

• Should the GBPUSD pair move below the pivotal 1.4146 level, a deeper price-correction towards the 1.4116 and 1.4088 levels appears likely.