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Forex pairs in this Article » GBP/USD (Edinburgh) - The sterling is now trading in a softer tone, with the GBP/USD printing fresh session lows in the area of 1.5230/35, ahead of the BoE MOC gathering due at the top of the hour.

GBP/USD looking for stability near-term

Although prior surveys broadly expect the central bank to stay in the sidelines today, leaving intact the asset purchase programme and the refi rate, cautiousness seems to prevail amongst traders, as it will be the first meeting with M.Carney as Governor. “At some point, Mr Carney is going to want to shake things up in terms of post-meeting communication, but this week may be just a bit too soon. Still, that's more likely than an actual policy change (odds very heavily against)”, assessed Kit Juckes, Strategist at Societe Generale.

GBP/USD levels to watch

At the moment the pair is retreating 0.25% at 1.5239 with the next support at 1.5130 (low Jul.3) ahead of 1.5111 (low May 30) and finally 1.5100 (psychological level). On the upside, a break above 1.5287 (MA100d) would expose 1.5297 (MA10d) and then 1.5346 (high Jun.27).
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