New asset purchase programme | 28 October 2020

28 October 2020, GBP/USD

New asset purchase programme

GBPUSD trading plan:

The darkening economic outlook looks set to push the Bank of England into ramping up its huge bond-buying stimulus programme next week for the third time since the onset of the covid-19 pandemic. The central bank is expected to increase the size of its asset purchase programme by a further 100 billion pounds on Nov. 5, according to poll of economists. Britain's economy has been propped up by BoE bond-buying alongside a surge in government spending that will explode the budget deficit to around 20% of gross domestic product in 2020. UK also risks a severe trade shock when its post-Brexit transition period ends on Dec. 31.

Trading recommendation: range 1.3025 -1.3100.

David Johnson
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus