The market's reaction was neutral after the publications of the Bank of England meeting minutes.
The Bank of England clearly explained Brexit that could have negative consequences for the UK economy.
Mark Carney said that Brexit can cause a recession and increase the inflation. Also, the BoE lowered its GDP forecast for this year from 2.2% to 2.0% and next year from 2.4% to 2.3%. The first rate hike can be possible in the middle of 2018.
In practice, this information complicates the path of the British pound to growth.
Today is an important day of the economic data. The United States will present data on retail sales. Core retails sales are forecasted to grow by 0.5%, PPI is projected to grow by 0.3%. The retails sales are forecasted to grow by 0.8% after the previous -0.4%. The Michigan Consumer Expectations are expected at 78.1.
How to trade
The short-term bearish movement is expected from 1.4385 to 1.4332. The short-term upward movement is possible in the range of 1.4465 - 1.4536. We would buy call binary options if the pair rises above 1.4465. We would buy put options if the pair falls below 1.4385.
Expiry time: 20:00 GMT