GBPUSD BoE speech incoming
The British pound has started the new trading week on the backfoot against the US dollar, with traders awaiting a scheduled speech from Bank of England Governor Bailey. Technical analysis shows that sellers need to break the 1.3420 support area to change the short-term trend to bearish. To the upside, the 1.3580 resistance level is a potential swing-sell or bullish breakout area this week.
The GBPUSD pair is only bullish while trading above the 1.3580 level, key resistance is found at the 1.3660 and the 1.3700 levels.
If the GBPUSD pair trades below the 1.3580, sellers may test the 1.3420 and 1.3300 support levels.