GBPUSD INTRADAY BEARISH BELOW 1.3450
The British pound continues to trade to the downside against the US dollar, after the UK Inflation Report Hearing provoked sterling selling. The GBPUSD pair had started to recover bullish momentum above the 1.3450 level, hitting 1.3491, but sellers soon moved in after BOE Governor Mark Carney delivered a dovish speech yesterday. Traders now look towards key market moving economic data from the United Kingdon economy, with monthly CPI and PPI data set to be released later this morning.
The GBPUSD pair is intraday bearish while trading below the 1.3450 level, key technical support is located at the 1.3390 and 1.3350 levels.
If the GBPUSD pair can correct above the 1.3450 level, buyers may try to test the 1.3475 and 1.3500 resistance levels.