How to trade UK Bank Rate Decision & Votes | Analysis by Keon Consultacy
Despite sharp fall in EUR, AUD & NZD versus USD in recent days; GBP/USD had stayed along with the rising trend line shown on daily/D1 time-frame. It manifests Pound's strength. Therefore, we were poised to take advantage of buying opportunity. Not only did the MPC maintain UK Bank Rate today but also did Bank Rate Vote stay unchanged. Just like last time, only 2 out of 9 members voted for rate cut unlike forecast of 3 votes for rate cut.
Besides the trading factors mentioned above, here is what we see on H4 time-frame. Screenshots clearly show our entry and exit points.