GBPUSD daily bearish Butterfly

Hi with so much going on in the news of late its hard to tell whether this patter will work or not. as
Mr Price is advocating a bullish view for the pound. We are above the weekly pivot of 1.57064, however could the rally be exhasted as the Daily stochastics suggests and the daily fractal points out a high @ 1.5897. the market is not giving away many clues as a possiable drop or Raise squares up as 50/50 bulls and bears. Still on the safe side i will have to say we are above the 55DMA and the 8DMA so any move to the down side is classed as corrective.
untill 1.5576 is broken
i've entered @ 1.58114 with a breakeven stop.

wow pattern still in play

The UK currency was expected to be kept in check ahead of a
Bank of England inflation report on Wednesday that may give
clues on the likelihood of more monetary easing. 

 The BoE last week pumped another 50 billion pounds into the
economy to try to stimulate growth under its quantitative easing
(QE) programme. Although the central bank sounded a little less
pessimistic about the economy, investors were wary of building
bullish bets before Wednesday's report.  

 "It looks like pressure is on the pound until we get through
the Inflation Report on Wednesday morning," said Lee McDarby,
head of corporate dealing at Investec Bank.  

 "It wouldn't be surprising to see more QE from the Bank of
England in the months ahead." 

 Morgan Stanley analysts told clients that they aimed to sell
sterling at higher levels towards $1.5960, with a target of
$1.5460, given the prospect of further QE and the UK's large
exposure to the euro zone. 

 Inflation data on Tuesday will also be key and is expected
to show a further dip in UK price pressures in January. 
Lower inflation would make it easier for BoE policymakers to
justify further monetary easing as their forecasts have shown
prices dropping back sharply from highs hit last year.

GBPUSD 4HR TIME FRAME