GBP/USD - 4 hourly - BOE due to speak Thursday. Support sits below.

Technicals

From a technical aspect on the 4 hourly, the GBP/USD pair has broken about the 20 SMA and looking to continue higher towards the 50 SMA at 1.2652. (total 80pt move). Support sits below 1.2482 (upwards trendline). RSI reads 49 suggesting fair value at its current price. Interest rate announcements from BOE is due again on Thursday. If rates rise, in theory this should help the pound gain in value.