GBP/USD Faces Selling Pressure Ahead of Key Bank of England Speech

The GBP/USD pair attracted sellers as it slipped below the crucial level of 1.3450 during early Asian trading hours on Tuesday. This downtrend comes amid a modest recovery of the US Dollar, prompting market participants to closely monitor price actions.

With investors eagerly awaiting a speech by Bank of England official Dave Ramsden, the market looks to gain fresh insights that could influence the direction of the GBP/USD pair. The speech is expected to provide critical signals concerning monetary policy and economic outlook, which remain paramount for traders.

Market participants will likely react to Ramsden’s statements, using them as key indicators to determine whether the dollar’s strength will continue or if the pound can regain its footing against the greenback. Understanding these dynamics will be crucial as they unfold.