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Just had a look through and the plans for option 1 which involve some pedestrianisation seem to be the best; https://www.cityoflondon.gov.uk/assets/Services-Environment/St-Pauls-Gyratory-Option-1.pdf
Would be a really positive change as cycling through there is pretty unpleasant.
The City of London are considering removing the St Paul's gyratory.
Plans and early consultation at https://www.cityoflondon.gov.uk/services/streets/traffic-schemes-and-proposals/st-pauls-gyratory