Cable holds just below 1.25 ahead of BOE policy decision ...Middle East

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Cable holds just below 1.25 ahead of BOE policy decision
With the BOE in focus, let's take a look at the levels in play for GBP/USD and how the decision might affect sterling.The pair ran up to test the 50.0 Fib retracement level at 1.2596 on Friday before easing back. And with the dollar regaining some composure this week, we are seeing a slight drop under the 1.2500 mark. The failure to lock in a firm break above the 200-day moving average (blue line) is also reinvigorating sellers for now.So, let's see how that is playing out in the near-term chart.There is some minor support around 1.2478-93 that is keeping price action more compact for now. But a break below that and the 1 May low of 1.2466 and GBP/USD will be exposed to some vulnerabilities

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