Overall, GBP/USD is trending upwards. Recently, GBP/USD trended lower after the Bank of England’s interest rate decision. The BoE kept interest rate unchanged at 0.75%. In the monetary policy summary, the BoE mentioned that two Monetary Policy Committee (MPC) members voted for a rate cut. Also, the annual inflation rate fell below the BoE’s 2% target. As a result, pound weakened. GBP/USD’s next support level is at 1.27400 and the next resistance level is at 1.29800. Look for short-term selling opportunities of GBP/USD while paying attention to the ongoing Brexit uncertainty.