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Bank of England day on GBPUSD, plan before the announcement and the reaction after

BoE day. I'm posting the plan first so it's on the record. Cable can move a long way on these and the first spike often reverses, so I'm keeping it simple.

Before the announcement I'll be flat from about thirty minutes ahead. No pending orders, nothing open. The morning will be normal trading and I'll stop early. Spreads widen a lot around the release, and I don't want my stops involved in that.

After the announcement, I'm not touching it for at least twenty minutes. Then I'll check where price is relative to the London range and the previous day high and low on M15. If it's holding outside a level, I look for a pullback entry. If it spiked and came back, I wait for the structure to form before doing anything.

If it's a mess, I'll shut it down and look at it tomorrow. I'll update this thread through the day.

For anyone new to BoE days, the vote split matters as much as the decision itself. Sometimes the rate change is expected but the number of members voting the other way surprises the market, and that is what drives the second move after the first spike. I do not try to trade that reaction directly, but it helps me understand why cable sometimes reverses after twenty minutes. If the split is a surprise, I give it even more time before looking for structure, because the first direction often does not last.

One thing I would add to the plan is checking EURGBP after the release. If cable moves but EURGBP does not, the move might be more about the dollar at that moment than the pound, which would be odd on a BoE day and makes me cautious. If EURGBP moves cleanly the opposite way, it confirms the pound is the driver. It is a quick check that helps me decide whether a pullback on cable is worth taking or whether I should just leave the day alone.

I also like that stopping early in the morning is part of the plan. On central bank days I find the hour before the release is where people get into trouble, taking small trades to fill the wait and then holding them into the number by accident. Being flat thirty minutes ahead and closing the platform for a bit is a good habit. If the post release structure is clean I can always come back, and if it is a mess, nothing is lost by sitting it out.