The British pound has reversed sharply from a nine-week trading high against the U.S dollar, hitting 1.4076, as risk-off trading sentiment returned after the Trump administrations imposed further trade tariffs on China. The GBPUSD pair retreated from the 1.4220 level, as the BoE meeting minute revealed that the outcome of Brexit remains the number one concern for Bank of England policy makers. Traders now look towards the 1.4088 support level, the BoE Quarterly Bulletin, and a scheduled speech from MPC voting member Gertjan Vlieghe.
The GBPUSD pair is still intraday bullish whilst trading above the key 1.4088 level, buyers may test towards the 1.4146 and 1.4200 levels.
Should the GBPUSD pair move below the 1.4088 support level, a price correction back toward the 1.4060 and 1.4000 support levels may occur.