• GBP/USD broadly rangebound on the day as markets await BoE policy decision and the accompanying minutes
  
  
• The pair weakened in the European session, breached 200-DMA located at 1.5352 and fell as low as 1.5338, later edged higher to currently trade at 1.5367
  
  
• No fireworks expected  from the Bank of England today, expectations are for the policy to remain unchanged, minutes are expected to show 8-1 split on interest rates
  
  
• Markets will be particularly interested in any discussions relating to the recent market volatility and how it might feed through to medium-term UK inflation
  
  
• Immediate support for cable is located at 1.5350 (20-DMA), under which the spot could drop to 1.53 levels On the other side, resistance is seen at 1.5377 (21-HMA) and further at 1.54 levels
  
  

Resistance Levels:

R3: 1.5415 (38.2% of 1.5820 - 1.5164)

R2: 1.5404 (Daily High Sep 9)

R1: 1.5377 (21-HMA)

Support Levels:

S1: 1.5350 (20-DMA)

S2: 1.5321 (10-DMA)

S3: 1.5288 (100-HMA)