Today at 14:35 GMT we expect a speech from the Bank of England’s Governor Mark Carney, as he’ll testify at the House of Lords Economic Affairs Committee in London, United Kingdom. Because of the overall Sterling’s bearish bias, any dovish words by Carney should add pressure on the British currency and eventually, such moves can open the doors to test flash crash’s lows across the board.
The technical overview for GBP/USD at H1 chart is still bearish, as the Cable is forming a lower triangle. However, The pair is attempting to consolidate above the 200 SMA and one breakout above the 1.2242 level can send it to test the 1.2300 handle. If Carney has some bearish words present during his testimony, then we should expect a lower breakout of the 1.2175 level, in order to test the 1.2144 price zone.
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Origin: FX BAZOOKA
