The British pound is consolidating recent losses against the US dollar ahead of today’s Bank of England’s key interest rate decision. The key downside levels to watch is the 1.3000 region, a break under this area exposes the GBPUSD pair to losses towards the 1.2910 level. A breakout above the 1.3155 resistance level should see the GBPUSD pair testing the 1.3200 level again.
The GBPUSD pair is only bullish while trading above the 1.3200 level, further upside towards the 1.3300 and 1.3375 levels then seems possible.
If the GBPUSD pair trades below the 1.3200 level, key support is found at the 1.3000 and 1.2910 levels.
