GBP/USD trades with minor losses, movements bounded by key levels before BoE decision.
Technical outlook neutral to slightly bullish; resistance at recent high of 1.2594 and 50-DMA at 1.2607.
Break below 200-DMA at 1.2545 could trigger further declines, with supports at 1.2500 and May 1 low of 1.2466.
The Pound Sterling registers anemic losses against the US Dollar as traders brace for the Bank of England’s (BoE) monetary policy decision on Thursday. The pair remained within the 1.2529-1.2594 boundaries during the last few days, capped by key support and resistance levels. The GBP/USD trades at 1.2556, down 0.04%.
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