GBP/USD:Trading the Bank of England Interest Rate Decision

On Thur 9th April 11:00GTM, Bank of England will announce the interest rate decision.

It is expected that the Bank of England would hold the benchmark interest rate at the record low of 0.5% in order to steer the economy out of a deepening recession.
The Q4 GDP reading show that the economy contracted more then the expected figures, as a result the central bank expect Q1 for 2009 should be simillar.

For the past interest rate decision, the average pips movement is around 100pips. Target a 100pips profit and stop lost of 50pips.
If the flat market movement is more then 50pips, i advise not to trade.