The British pound has started to give back recent trading gains against the U.S dollar, after repeated technical price-failures above the key 1.4200 level on Wednesday. The GBPUSD pair currently trades around the 1.4170 level, and is currently under slight selling pressure from the bearish double-top pattern formation. Traders now look towards a scheduled speech from BOE Governor Mark Carney later today, and the 1.4146 pivotal level for directional guidance.
The GBPUSD pair only retains its intraday bullish bias while clearly trading above the 1.4146 level, key technical resistance is now found at the 1.4222 and 1.4243 levels.
Should the GBPUSD pair move below the pivotal 1.4146 level, a deeper price-correction towards the 1.4116 and 1.4088 levels appears likely.
