On Thursday, the pound went up against the US dollar, pulling away from a one month low amid fresh hopes for an agreement on Greece after the country asked for a new three year recovery program, while today, the markets expect the publication of another statement of the Bank of England's rate.
During European morning trade, the pair GBP/USD reached 1.5421, the session high, and subsequently consolidated at 1.5397, rising 0.24%.
The pair is likely to find support at 1.5327, the Tuesday's low, and resistance at 1.5468, the high of the same day.
Market sentiment improved somewhat after Greece requested on Wednesday a new three year saving program from the Eurozone creditors and promised some economic reforms.
If the European leaders are satisfied or not with the Greece's request for an extension of emergency lending crisis on Sunday summit, will depend on the decision of Greek Prime Minister, Alexis Tsipras, on pension cuts, tax increases and other austerity measures after five months of negotiations.
German Finance Minister, Wolfgang Schaeuble, said that "immediate reconsideration will begin only after there will be a complete package of reforms."
Meanwhile, the political protocol of June Fed meeting showed that officials responsible for the policy of the bank would like to see more signs of strengthening US economy, before they start to raise interest rates.
In its policy statement in June, the central bank indicated that it has scheduled at least one, and possibly the second increase later this year.
The Protocol also noted concerns about the financial problems of Greece, hinting that the crisis in the global market may disrupt plans for the Fed to raise rates because of a chain reaction.
Later today, the Bank of England is expected to keep monetary policy unchanged - the benchmark interest rate will be at 0.50%, and the volume of the asset purchase program will remain at 375 billion pounds.
Sterling rose against the euro; EUR/GBP pair fell 0.60% to 0.7170.