GBP/USD Gains Erode Ahead of Data and BOE

GBP/USD is trading at 1.2300, up 0.0065. The pair is trading choppy and some session gains have eroded as overseas forex traders begin to wind down trading for the day. Market chatter about U.S. political polls, U.K. economic data and the Bank of England monetary policy has kept buyers and sellers active. The U.K. services PMI (purchasing managers survey) is scheduled for release at 5:30 a.m. ET. The Bank of England (BOE) Monetary Policy Committee (MPC) meets Thursday and is scheduled to announce if there is any change to monetary policy and quantitative easing levels, release policy minutes and the BOE inflation report at 8:00 a.m. ET. British pound, GBP/USD