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  • Cable eases from earlier tops beyond 1.3300 the figure.
  • GBP sentiment boosted by USD-weakness, hawkish BoE.
  • Absence of Brexit headlines contributes to the upbeat mood.

After testing fresh multi-day peaks beyond the 1.3300 handle, GBP/USD is now shedding some ground and returning to the 1.3285/80 band.

GBP/USD upbeat on BoE, USD-selling

The continuation of the sell off around the greenback has been collaborated with the renewed and strong upside momentum surrounding the British Pound.

The Sterling has been already on the rise in response to the unexpected hawkish message from the Bank of England at yesterday’s meeting. It is worth mentioning that the MPC voted 6-3 favouring an ‘on hold’ stance, with members McCafferty, Saunders and Haldane advocating a rate hike. In this regard, markets are already pricing in higher rates by the BoE at the August meeting.

Collaborating with the sentiment, the lack of fresh news or relevant headlines around Brexit appears to be also lending support to GBP.

In the US docket, advanced June’s manufacturing/services PMI will be the only release.

GBP/USD levels to consider

As of writing, the pair is gaining 0.36% at 1.3289 facing the next hurdle at 1.3315 (high Jun.22) seconded by 1.3447 (high Jun.14) and then 1.3474 (high Jun.7). On the flip side, a breakdown of 1.3101 (2018 low Jun.21) would expose 1.3039 (monthly low Nov.3 2017) and finally 1.3027 (monthly low Oct.6 2017).