FX.co ★ Trading idea for GBP/USD

The policy decisions of the Bank of England will undoubtedly affect investor sentiment today.

In fact, volatility is expected to increase at the time the central bank announces its decisions.

And considering the fact that major players are currently hovering at 1.4000 and 1.3666, pound will most likely move according to this scenario:

As we can see on the chart, pound is clamped in a triangle, which means it has a fair chance of moving upwards or downwards. The deciding factor will be the Bank of England's decision, so rely on it when choosing where to open positions.

The scenarios above are presented within the framework of Price Action and Stop Hunting methods.

Good luck!