GBP/USD Forecast: 12/05/2016

Bank of England MPC Votes on Interest Rate

On May 12, 2016, an interest rate decision by the Bank of England is expected to be released.
Taking into account that no change in the rate is anticipated, the focus of traders' attention will be on the results of the voting. If at least one of nine MPC members votes for an interest rate rise, then, as it typically happens, a strengthening of the pound will occur.
In this case, a buy position on GBP/USD, opened upon the release of the voting results, can make a profit of $1,000 and over in a short period of time, with trading one lot.

Bank of England Interest Rate Decision forecast: 100 pips


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