GBP/USD consolidates above mid-1.3200s as traders move to the sidelines ahead of BoE this week

• GBP / USD is struggling to gain a significant traction at the start of a new week.
• Aggressive feeding betting rates cap the recent USD rise and support the pair.
• The GBP Bulls seem reluctant before the Boe political meeting on Thursday.

The GBP / USD pair is launching the new week on a moderate note and oscillates in a narrow commercial strip around the area of ​​1.3260-1.3265, almost a low week affected during the Asian session.

The US Dollar (USD) remains on the defensive less than a summit of several weeks in the middle of increased economic uncertainty at the back of the pricing plans of the American president Donald Trump and turns out to be a key factor acting as a rear wind for the GBP / USD pair. Adding to this, the prospect of an attenuation of more aggressive policy by the Federal Reserve (Fed) seems to undermine the greenback.

Despite the better than expected release of the United States Non -agricultural payrolls (NF) Report Friday, investors seem convinced that the American central bank will resume its rate reduction cycle in June and reduces borrowing costs by 100 base points by the end of this year. This, as well as optimism on the potential de-escalation of the American-Chinese trade war, the bumps of demand for the male of security.

Merchants, however, seem reluctant to place new bruise bets around the GBP / USD pair and choose to wait for the risk of this week's central bank event – the monetary policy of the Bank of England (BOE) on Thursday. The British central bank is expected to reduce interest rates by 25 BPS and adopt a slightly dominant position in the risk of lowering the growth of the trade war.

Apart from that, this week's merchants will take insults from the outcome of the two -day FOMC crucial policy meeting on Wednesday, which will influence the Dynamics of USD prices and will provide significant momentum to the GBP / USD pair. Meanwhile, the Liberation of Monday of the US ISM PMI services will be considered to seize short-term opportunities later at the start of the North American session.