12:00 pm GBP Surprise rate-cut to 5.5% from 5.75%
This is the first time I've seen such a wide spread in my EA (metatrader) trading platform. To make matter worse, my EA was actually holding a short sterling position into the announcement. The trade entry was 2.0278. A newly modified trailing stop algorithm was just in place to replace the last (i.e not so effective) one.
Bang! There came the news and my short position survived amid price volatility and wide spread. Eventually, it hit my price target of 2.0193 for a tidy 85-pip profit.
Definitely an interesting and exciting episode in my EA trading experiment so far.
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