The BOE is widely expected to hike the official bank rate on Tuesday. For that reason, the sellers might show up anytime soon.
From intraday perspective 1.3160-75 looks like a potential turning spot for the GBP/USD. In the case of bigger retracement, traders should pay attention to 1.3200-1.3210. Due to potential risk with the BOE announcement on Thursday, sellers should place their stops a bit higher around 1.3290. Intraday Targets are 1.3130 and 1.3085. Swing trade targets are 1.3060 and 1.3020. The break of 1.3020 will put the GBP/USD into a strong bearish territory, exposing 1.2950 zone.
Many green pips,
Nenad Kerkez aka Tarantula FX