GBP/USD Little Changed, U.K Loan Approvals Improve

GBP/USD is trading at 1.2370, down 0.0006. The pair is trading rangebound and in the middle of the session range. The Bank of England (BOE) reported that loan approvals for house purchases in the United Kingdom rose to 69,920 in January versus 68,270 in December. The BOE reported that consumer credit in the U.K. rose 1.416 billion Sterling in January versus a downwardly revised 0.984 billion Sterling rise in December. Mortgage lending during January fell to 3.4 billion sterling from 3.7 billion sterling in December.