Obviously ahead of price - all part of a traders approach.
Levels are a pretty common approach.
One example yesterday morning - the BRC published a report on their web site headlined “WORST YEAR ON RECORD FOR RETAIL”.
Then a couple of hours later Carney was scheduled to speak - retail sales are a driver for price inflation, so reasonable chance that he would be far from upbeat.
Cable had reached up to 3120 early morning - so a decent sell stop would be below 3100 and a safe order would sit below 3080
If you have a look at 15min you will see that there were a few orders right there - went against that level by less than 10
Edit: some context here: