Cable falls to 1.2316 ahead of BoE interest rate decision and quarterly MPR

See: nL8N34H5C8. 1.2316 = intra-day low. 1.2400 was Asian session high

Money markets currently see 90% chance of 50 bps BoE rate rise at 1200 GMT

GBP/USD could fall further if BoE opts for 25 bps hike instead nL1N34H0QA

1.2275 (Weds low, before Powell hurt USD) and 1.2250 are supports sub-1.23

BoE Governor Bailey's press briefing after rate decision/MPR starts 1230 GMT