The Bank of England (BoE) has dramatically shifted its economic forecasts. They no longer expect a recession in the UK and have upgraded their growth projections. This year, the BoE predicts GDP growth of +0.25%, a significant improvement from previous expectations. Next year's forecast is even more optimistic, with a projected growth of 0.75%.
AUD/USD: aussie entered into Cloud
2019-11-11 • Updated
Technical levels: support – 0.7450, 0.7500; resistance – 0.7550, 0.7600
- Sell — 0.7590; SL — 0.7610; TP1 — 0.7500; TP2 — 0.7450.
Reason: narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but narrowing channel Tenkan-Kijun; the market inside a Cloud again, but there is a strong resistance near 0.7600 – Senkou Span B.
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