• EUR/GBP trades a narrow 22 pip range in the Asian session as markets await BoE's policy decision.
   
• The BoE is largely expected to cut rates by 25bps to new record lows of 0.25 percent.
   
• However, it is to be seen if Governor Carney will announce more bold measures, or leave doors open for additional stimulus.
   
• Inflation and growth forecasts will also be keenly watched for further direction.
   
• Techs on the daily charts have a slightly bearish bias. Momentum studies are neutral, while Stoch are biased lower.
   
• 0.84 which is converged 7 and 21 DMA is stiff resistance, while 0.83 on the downside has offered major support in the past weeks.
   
• Break above or below the above-mentioned ranges will indicate further direction for the pair.
   
• Above 0.84 next hurdles align at 0.8492 (Aug 2 high), 0.86 and then 0.8627 (July 6 high).
   
• Break below 0.83 will see test of 0.8234 (38.2% Fib) and then 0.8145 (50-DMA).