GBP$ +0.43% at 1.2005 into NorAm close; Tuesday range 1.2044-1.1926

Talk of ECB +50bp Thursday boosts BoE +50 on Aug 4 expectations

USD bid diminished after Fed members dial back Fed +100 bps post inflation

Sterling eyes resistance as ECB positioning enhances BoE view nL1N2Z01AU

UK inflation Wednesday f/c at G7-leading 9.3% adds to hawkish BoE view

21-DMA resistance by 1.2061 caps for now, then 30-DMA at 1.2125

Close above 1.2083, 50% Fib of 1.2405-1.1761 shifts momentum to bulls

Support at Tues low 1.1926, 100-HMA 1.1898, Jul 14 low 1.1761

EUR/GBP +0.48 at 0.8527; more hawkish ECB rate liftoff boosts EUR