GBP/USD Reclaims 1.3300 as Markets Await BoE Rate Decision

GBP/USD has regained the psychologically important 1.3300 level during Wednesday's trading session, rising approximately 0.2% as traders position ahead of the Bank of England's imminent monetary policy decision. The pound's recovery comes amid growing speculation that the BoE may maintain its current stance or signal a more gradual approach to future rate adjustments, contrasting with earlier hawkish expectations. Sterling found support near 1.3250 earlier in the week before mounting its recovery. Technical indicators suggest the pair faces immediate resistance at 1.3350, with a break above potentially opening the path toward 1.3400. Support remains firm at the 1.3250 area. Market participants are closely watching for any shifts in the BoE's inflation outlook and forward guidance, which could significantly impact sterling's trajectory. A hawkish surprise could propel the pair higher, while a dovish tilt may pressure the pound back below 1.3300.