GBPUSD 1D | Market Outlook

- Bank of England announced its Interest Rate Decision. There were no major surprises as the bank kept the rate at 0.1% and also maintained its quantitative easing program at 745 billion pounds.
- Initial bias remain neutral this week and further decline is still expected. Break of 1.2762 will resume the fall from 1.3482 to 38.2% retracement at 1.2690. Though, break of 1.3035 will suggest that decline from 1.3482 is merely a corrective move, and turn bias back to the upside for retesting 1.32062.