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%.
EUR/USD: breakout SSB’s resistance
2019-11-11 • Updated
Technical levels: support – 1.0700, 1.0680; resistance – 1.0740, 1.0790.
1. Buy — 1.0720; SL — 1.070; TP1 — 1.0790; TP2 – 1.0820.
Reason: narrowing bearish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen, rising Kijun-sen; the prices are breaking out the resistance of SSB; local market is overbought.
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