There’s a possible double-bottom on the daily chart to pique technician’s interest and there’s a double whammy of event risk which theoretically could send the cross on a big move. If the MPC overwhelmingly votes for QE and if the ECB does little or nothing, then we could see a sharp move higher in the cross. Of course if the ECB cuts rates and the BOE does nothing, the sharp move will be in the opposite direction. This should be one of the more interesting pairs to trade over the next 12 hours.