In view that BoE budget will appease domestic interests and overall hawkish interest rate view while holding rate. Brexit sediment to ease with preferable talks and leverage over EU.
Auntie Yellen USD neutral but less dovish from reduced fear of China sediments. Data still not solid except for employment. However all other data trailing so overall bearish - renewal outlook of rate hike of 1 - 2 for 2016 @ .125 increments.
Expect vol to spike as per chart within SL area. Buy stops alternative idea but in my view more risky due to likely vol to hit this pair