The British pound sterling is trading mixed, albeit price action is attempting to pull back from the intraday lows.

The declines were offset by the BoE meeting where officials hinted that they were open to negative rates.

This saw GBPUSD declining after failing to breakout above the 1.3000 handle.

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However, as prices touched intraday lows of 1.2865, a strong reversal has made up some of the loses.

The Stochastics oscillator is likely to push higher as well, suggesting upside momentum building up.

Watch for a breakout above 1.3000 which will see further gains to 1.3122 level next.

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