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 will continue downtrend
2019-11-11 • Updated
Technical levels: support – 0.7600; resistance – 0.7630
- Sell — 0.7590; SL — 0.7610; TP1 — 0.7530; TP2 — 0.7500.
Reason: narrow bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the prices tested the Cloud’s upper border and can’t breakout it to positive area.
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