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FxWirePro: GBP/USD edges up ahead BoE policy meeting

• GBP/USD edged higher on Tuesday ahead of a busy central bank week, including the BoE meeting.

• Investors' focus this week will be on interest rate decisions ​in the UK, the ​U.S., and Europe ⁠and comments from policymakers on how they intend to navigate the potential energy-driven inflationary pressures.

• Investors expect the BoE to keep ​rates steady on Thursday, with investors closely watching any signals about how policymakers would react to a potential new oil shock.

• UK jobs data due Thursday will be closely watched ahead of the BoE policy meeting for clues on the labor market and rate outlook.

• Immediate resistance is located at 1.3398(50%fib), any close above will push the pair towards 1.3424(SMA 20).

• Strong support is seen at 1.3227(38.2%fib) and break below could take the pair towards 1.3187(Lower BB).

Recommendation: Good to buy  on  around 1.3320 with stop loss of 1.3250 and target price of 1.3380

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