BoE officials have been speaking publicly. BoE's Bean expects UK growth to strengthen through 2013-14 and is open to more QE depending on outlook for demand and inflation. BoE's McCafferty pointed to receded risks of a Euro break-up, but that they are still there, with Italian elections proving the point. After the London opening, the GBP/USD bounced from 1.5141 and shot up back to 1.5200 area, up by +0.25% on the day.
"The GBP/USD currency pair is still moving near its minimums; the market has already formed the first ascending impulse and corrected it. I think today the price may form the second impulse and break the previous descending channel; the target is at 1.5270", wrote Roboforex.com analyst Igor Sayadov, pointing then to a return to 1.5170 before starting to form a head & shoulders reversal pattern with the target at 1.5500.