MarcellusLUX

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

MarcellusLUX Updated   
FX:GBPUSD   British Pound / U.S. Dollar
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

๐Ÿ“ŒAround74% of the retail clients are net long which means institutions would
ideally want to take the price lower.

๐Ÿ“ŒA lot of liquidity is up for grabs below the 1.23 level where most of the retail
Stop Losses are.

๐Ÿ“ŒI 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.

๐Ÿ“ŒOver 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

๐Ÿ“Œ ๐—™๐—ฅ๐—˜๐—˜ ๐—ฆ๐—œ๐—š๐—ก๐—”๐—Ÿ๐—ฆ
โ–ถ๏ธ t.me/MLuxTrade
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