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Forex pairs in this Article » GBP/USD
FXstreet.com (Barcelona) - The sterling is prolonging its congestion pattern in the region of 1.5650 on Wednesday, ahead of the Halifax House Prices in the UK due later. Estimates are calling a contraction of 0.2% on a monthly basis vs. a raise of 1.5% over the last twelve months.

Bearishness surrounding the pound has intensified in the past sessions, ahead of the BoE MPC meeting due tomorrow. It is worth noting that the broad consensus expects a more dovish tone and no changes in both the repo rate and the asset purchase programme, although M.Carney's speech before the TSC would be on the limelight.

As of writing, the pair is losing 0.10% at 1.5642 facing the next support at 1.5608 (Lower Bollinger).
On the flip side, a surpass of 1.5879 (high Feb.1) would aim for 1.5889 (MA200d).
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