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Mark Carney’s hints at fresh easing put new downward pressure on sterling, although IN_GBPUSD has yet to push below the lows of last week. This could be the fundamental catalyst that pushes the pair further downwards.
A break below $1.3110 would open the way to further downside, with the mid-1980s lows in prospect, down towards $1.15. Any bounce above $1,35 would then need to fill the gap from last week, with some resistance at $1.3675.