Governor Mark Carney and the Monetary Policy Committee publish their first full assessment of what the Brexit vote means for the economy and their defensive plan. Almost all economists in a Bloomberg survey say the benchmark rate will be reduced to a record low and most predict other measures as well.
since the last meeting for BOE last month several reports indicates a slumping growth for the UK economy which may be enough to convince policy makers that time is now to act.
and so most predictions today heading to lower Interest Rate and maybe to add more Quantitative Easing Program to push down Long-Run Interest rate
GBPUSD still facing drop pressure over the Short-Run where resistance level at (1.3400-10) zone which will consider the main zone for the drop movement to head toward (1.2900) level
above (1.3410) market will face several resistance levels at (1.3450-80) and (1.3535)
the actual risk for this model will be a break above (1.3535) which may give the market the opportunity to initiate uptrend wave that may target (1.3830) & (1.3930)
the most strong scenario still to head with the market down regarding what most economist expected from BOE measures which may push the British Boud to drop