7:00am (NY Time) UK Interest Rate Decision Forecast 0.50% Previous 0.50%
BOE is scheduled to release its interest rate decision once again today, and it is expected that Bank of England will keep the current rate 0.50%. But ever since the last rate decision and surprise increase in the APF by 50 billion pound, Sterling has been trading under substantial pressure.
BOE decided to keep everything unchanged and market reacted with optimism and risk appetite. As I quickly assessed the market and decided to wait for a proper retracement, I guided the room for at least 20 pips of profit to 50 pips off on this trade LIVE. Watch how I evaluate the market as we pick up pips with relatively little to no drawdowns…