GBP/USD Little Lower

GBP/USD is trading at 1.5539, down 0.0026. The pair is trading choppy and rangebound just above the lows of the session Tuesday morning.

U.K. public sector borrowing came out at -8.58 billion, 8.3 percent below a year ago. Wednesday morning the Minutes for the Bank of England's Monetary policy meeting are scheduled for release and the CBI Trends Orders Index for July are due out. Wednesday afternoon Bank of England Governor Mark Carney is scheduled to speak at 1:00 p.m. ET.