Rebound pound still notable as market waits on Carney

Pound pairs still feeling some love after the early Europe tumble 30 Jan

An impressive recovery for the pound today in a heady mix of risk sentiment, Brexit, May, and USD volatility.

From 1.3980 lows GBPUSD has now tested decent resistance/offers around 1.4150 with EURGBP also testing support/demand into 0.8785. GBPJPY a little higher too again as USDJPY finds support below 108.50 with option interest there rolling off a the top of the hour.

I would expect some money coming off the table now though as we wait on Carney. Further to my post earlier another heads-up now re the appearance of BOE governor Carney before the upper House of Lords Economic Affairs Committee at 15.30 GMT

Expect plenty of questions on Brexit and latest developments as well as some interest in finding out more on possible rate hikes. Carney is good at playing a straight bat to most curve balls thrown at him but we might glean something of interest. Be sure the algos will pick up on anything of note even if the detail does reveal some repetition.

Watch it all live here

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