The pair is declining 190 pips and trading at 147.28 yens per pound. The BoE will meet on the next 10th of December, but the market is not expecting rates do change. What traders are looking for are announcements about the asset purchase program and its possible expansion.The bands of Bollinger are enlarging, showing a volatility of 220 pips, while the 14 period RSI is on a neutral zone. If we observe the Stochastic, it shows selling signs, right now.
The chart with one month reference and one hour candles show how the 23.60% of the fibo marked between 149.30 and 139.47 is consolidating with the price.