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%.
GBP/USD: bulls got a strength for correction
2019-11-11 • Updated
Technical levels: support – 1.3140; resistance – 1.3270.
- Sell — 1.3270; SL — 1.3290; TP1 — 1.3190; TP2 — 1.3140.
Reason: narrowing bearish Ichimoku Cloud with rising Senkou Span A and B; a cancelled dead cross of Tenkan-sen and Kijun-sen; a market testing Cloud’s resistance; waiting for downtrend’s continue.
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