BOE rate event in a couple of hours, GBP/USD traders take note

Hello everyone! With BOE rate event happening in a couple of hours, we could see
some whipsaw moves in GBP/USD. Here are some key takeaways that will help you
trade GBP/USD over the next few days

📌Around74% of the retail clients are net long which means institutions would
ideally want to take the price lower.

📌A lot of liquidity is up for grabs below the 1.23 level where most of the retail
Stop Losses are.

📌I do not recommend opening any positions now. However, if price rapidly drops
near the 1.22 level following the BOE rate event, traders can consider taking a
buy trade with prop risk management.

📌Over the course of the next few weeks, price could make a recovery to 1.26 or 1.27.

Comment:

As expected price dropped below the 1.23 level after the event