Economists at ING discuss GBP outlook ahead of the Bank of England (BoE) meeting today.

Softer Dollar environment should keep GBP/USD bid

We think EUR/GBP has made an important turn higher this week and can easily see it trading back to 0.88 over the coming months. 

The softer Dollar environment should keep GBP/USD bid and suggests demand emerges below 1.2700 should the BoE statement or minutes say anything less hawkish than the market expects