GBP/USD Price Analysis: Edges Lower Yet Remains Above 1.2800

GBP/USD drops 0.32% as BoE cuts rates to 5.25% in a tight 5-4 vote. Technical outlook suggests potential rebound, forming a 'hammer' pattern. Key resistance levels at 1.2888, 1.2900, and 1.2937; support levels at 1.2786, 1.2750, and 1.2700.