The upcoming BoE rate decision will present significant event risk for the GBP/USD as the central bank will decide on the future of its asset purchase program. Therefore, we may see little volatility from the pair pre-release as traders will remain hesitant to make bets without confirming the direction of monetary policy. The potential range bound price action will provide an opportunity for scalpers to generate profits without fear of a breakout. However, traders should wait until after today’s FOMC meeting and its potential to impact market sentiment.

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GBP/USD Becomes Target For Scalpers With Event Risk Looming