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GBP/USD finds a base below 1.21 as BOE decision looms

The final major Central Bank policy decision of the week will be revealed at 12pm GMT today. That is from the Bank of England (BOE) and it looks like a foregone conclusion, that the BOE will do nothing. Pretty much no one expects any change from the BOE today. That looks almost a cast iron certainty, but the biggest surprise of the week would be if that was not the case. Now ahead of this the pound has gotten a welcome reprieve from a dollar that has fallen back on Fed inaction. The GBP/USD has found a base just below 1.21 again. The pound tried twice more to force a break below that level yesterday, but successive lows ahead of 1.2095 helped to deliver a rebound close to 1.22 once more earlier today. There will be more to add on this as the morning unfolds. The range seen so far today has been covered by 1.2138 to 1.2196. The Pound closed at 1.2152 last night and it is currently trading at 1.2181

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