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: the bears looks for 0.7500
2019-11-11 • Updated
Technical levels: support – 0.7530, 0.7490; resistance – 0.7580
- Sell — 0.7580; SL — 0.7600; TP1 — 0.7530; TP2 — 0.7490.
Reason: expanding bearish Ichimoku Cloud with huge diapason and falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, falling Kijun-sen; the market is on the new lows again, but the main target of the Bears is 0.7500.
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