For the 24 hours to 23:00 GMT, the GBP fell 0.24% against the USD and closed at 1.6830.
On Tuesday, the BoE Deputy Governor for Financial Stability, Sir Jon Cunliffe urged the Britain banks to undertake further reform to create such a financial environment in which they are no longer “too big to fail.”
In the Asian session, at GMT0300, the pair is trading at 1.6844, with the GBP trading 0.08% higher from yesterday’s close.
The pair is expected to find support at 1.6813, and a fall through could take it to the next support level of 1.6782. The pair is expected to find its first resistance at 1.6880, and a rise through could take it to the next resistance level of 1.6916.
Traders keenly await UK’s employment data and the BoE’s quarterly inflation report for further cues in the UK Pound. Market participants also look forward to a planned speech from the BoE Governor, Mark Carney, due later today.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.