GBP/USD : The Pound declined following comments from the BoE




The speech of Mark Carney has a downward impact on the Pound and plunge the GBP/USD.

While the BoE had announced at its last meeting that there will probably be a rate hike in the coming months, the speech of mark Carney today surprised by the lack of hawkish tone, which weighs on GBP in the Forex.

The President of the BoE has cited the decline in the GBP as the main reason of the increase in inflation, but the lack of comments more hawkish is taken as a pretext to revive the decline in GBP/USD after attempting to rebound this morning.

The cable is testing now on the threshold of 1.3200, a break should encourage a return towards the low last week in the area of 1.3125.

Below, the drop may then continue in the direction of the recent low towards the 1.3030.

A break here would reinforce the bearish correction in the short term since the area of 1.36.

The resistances come at 1.3250, 1.3285 and 1.3340.

The pair GBP/USD is currently trading at 1.3198 on the Forex.

Chart GBP/USD H1



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