• 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
