GBP/USD bid post-Carney, testing 1.3170

GBP/USD remains entrenched in the negative territory today, although it has managed to leave the area of 31-year lows at 1.3115 posted earlier.

GBP/USD gained some pips after Carney

The pair has rebounded from more than three decades lows in the 1.3115/10 band after Governor M.Carney expressed his concerns on the UK’s current account deficit following the ‘Brexit’ vote.

Carney also said that UK exporters should benefit from the weaker exchange rate, while he stressed that the adjustment in GBP has been significant and necessary.

Governor Carney argued that there is rising evidence that investments have been delayed in the wake of the vote and that the central bank will do whatever is necessary to support the economy.

GBP/USD levels to consider

As of writing the pair is losing 1.00% at 1.3154 and a breach of 1.3115 (2016 low Jun.27) would open the door to 1.3000 (psychological level). On the other hand, the initial up barrier is located at 1.3533 (high Jun.29) followed by 1.3833 (previous 2016 low Feb.29) and finally 1.4004 (low Apr.6).