GBP/USD heavy in Asia, political declarations awaited

GBP/USD is under pressure in the Asian session, last printing at 1.3424 session lows, as the risk sentiment seen on Wednesday deteriorates in the first hour of trading in Japan, with the Nikkei 225 erasing most of its large gains at the open, last trading circa 15,700.00, up 0.93%.

Awaiting political declarations, BoE Carney

Adam Button, writing for AshrafLaidi.com site, observes that "the Sterling story is well-established and we continue to await the declarations from the Conservative leadership  --Johnson and May ahead of the Thursday deadline."

It is also worth noting, as Valeria Bednarik, Chief Analyst at FXStreet notes, that "Mark Carney is expected to give a speech this Thursday, presumably about the Brexit referendum result and how the BOE will handle it." The speech may add volatility to the Sterling.

GBP/USD technial outlook

Technically, Valeria notes: "The pair retreated almost 100 pips in the American afternoon, to settle below 1.3485, suggesting the upward corrective movement may be completed. In the 4 hours chart, the price is above a bearish 20 SMA, the Momentum indicator maintains its bullish slope, but the RSI indicator already turned south below its 50 level, anticipating additional declines on a break below 1.3430, the immediate support."