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 tested Cloud’s support
2019-11-11 • Updated
Technical levels: support – 1.2960, 1.2900; resistance – 1.3010.
- Buy — 1.2950; SL — 1.2930; TP1 — 1.3010; TP2 — 1.3050.
Reason: bullish Ichimoku Cloud, but falling Senkou Span A; a correctional dead cross of Tenkan-sen and Kijun-sen; the market is supported by the Cloud.
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