Pound Sterling drops to 1.25s after BoE notes signs of inflation easing

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• Pound Sterling vs US Dollar weakens after the BoE meeting, after Andrew Bailey’s comments on easing inflationary pressures.  
• Nevertheless, BoE Chairman adds that inflationary risks are still skewed to the upside and secondary effects are persistent. 
• Another shooting star candlestick reversal pattern forms at the GBP/USD May highs but requires confirmation from a bearish close. 

The Pound Sterling (GBP) experiences heightened volatility against the US Dollar (USD) following the Bank of England (BoE) monetary policy meeting on Thursday. It is trading in the 1.25s at the time of writing, showing a bearish short-term bias as investors digest the BoE event.