BOE's Bailey is speaking at the London school of economics.

The GBPUSD is continuing up-and-down trading with a low near 1.26858 in a high near 1.2726. A swing area on the top side extends up to 1.2735. On the downside a break of 1.2685 would have traders targeting the 61.8% retracement of the move down from the March I. The level comes in at 1.2665. Below that is the 100 day moving average at 1.26322.