• Cable has traded a 17.5 pip range thus far Tuesday; 1.32865-1.3304

• 1.32865 is 2.4 pips above Monday's base - the lowest level since July 2

• July 2 low was 1.32756 (July 1 low was 1.3220)

• Dollar supported by risk of Fed rate hike as early as Wednesday

• There are 1.3280-85 option expiries for the 10am ET NY cut

• BoE is expected to keep its policy rate unchanged on Thursday

GBPUSD


(Robert Howard is a Reuters market analyst. The views expressed are his own)