Buy the wave of disbelief - GBP/USD

The downtrend has been confirmed after a break of 1.2466.
We have just seen the Official Bank Rate in the GBP, the news summary is below:

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Bank Rate held @ 5.25%

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Monetary policy is working as expected and inflation is expected to reach its target of 2%.
However, they do not feel the time is right to cut the interest rate.

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Andrew Bailey said he cannot rule out a small rate cut in June.

GBPUSD:
The idea is to buy the current swing (wave of disbelief), this is expected to be a strong reversal to clear all the stops above the current price. This wave should not take the high of last week's 1.2634, but we are expecting the 1.2564 to be broken before we can start to think of selling again.