BOE Carney speaking:
BOE Carney is on the wires saying:
- UK business has stalled since 2016 present referendum
- The slowing of investment has had an effect on productivity
- UK labour market is incredibly tight
- most recent global trade figures are poor
- business uncertainty in the UK is through the roof
The GBPUSD has cracked below the 100 hour MA and tests the lows from the London morning session and today's earlier low at 1.3053. The sellers are trying to add to the bearish bias. A break below 1.3053 should solicit more selling.
The one caveat...we have seen this story before over the last day or so and each time the price dips below the 100 hour MA, buyers have quickly returned. So be aware. We need a break below the 1.3053 level and stay below.
