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: pound is in consolidation under Cloud
2019-11-11 • Updated
Technical levels: support – 1.2980; resistance – 1.3000, 1.3090.
- Sell — 1.2980; SL — 1.3000; TP1 — 1.2910; TP2 — 1.2870.
- Buy — 1.3010; SL — 1.2090; TP1 — 1.3090; TP2 — 1.3140.
Reason: bearish Ichimoku Cloud with horizontal borders; a dead cross of Tenkan-sen and Kijun-sen, but the narrow channel of the lines; the bears can’t breaking down the support of 1.2980.
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