BOE’s Bailey is expected to speak at 1 PM ET

BOE’s Bailey is speaking at the London school of economics.

The GBPUSD is continuing up-and-down trading with a low near 1.26858 in a high near 1.2726. A swing area on the top side extends up to 1.2735. On the downside a break of 1.2685 would have traders targeting the 61.8% retracement of the move down from the March I. The level comes in at 1.2665. Below that is the 100 day moving average at 1.26322.

This article was written by Greg Michalowski at www.forexlive.com.