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From Unreal Wiki, The Unreal Engine Documentation Site

Texture Pan is one of UnrealEd's camera modes. Switch to it by clicking the button in the toolbox, or with the appropriate UnrealEd Console command if you're feeling masochistic.

• Hold down CTRL and the left button. Move the mouse sideways to pan the texture left or right.
• Hold down CTRL and the right button. Move the mouse backward or forward to pan the texture up or down, respectively.

Though the panning looks smooth, it is actually moving one unit at a time.

See Also

• Surface Alignment for numerical ways to pan textures
• TexAlign for even smarter ways to align textures
• Toolbox for other camera modes, including Texture Rotate
• Texture Topics for everything else texture-related