All eyes on GBP/USD at the open
The week is barely a few hours old and already the pound has been the subject of much attention ahead of the prime minister’s speech tomorrow. The early gap down has not been met with fresh selling, so the $1.2023 level is the one to watch for the time being.
A close below here is likely to head towards $1.1905 and then $1.1772. Any rally needs to move above $1.2180, but this will largely depend on the content of tomorrow’s speech.