The BoE is set to significantly upgrade its growth | 06 May 2021

06 May 2021, GBP/USD

The BoE is set to significantly upgrade its growth

GBPUSD trading plan:

The Bank of England may add fuel to investors’ expectations that its next move will be to tighten monetary policy rather than provide fresh stimulus to the economy as the pandemic eases. The U.K. central bank is set to significantly upgrade its growth outlook as the debate shifts away from whether it should cut interest rates below zero to how fast can the economy recoup its pandemic-induced losses. A forecast for inflation around its 2% target within the next two years could be read as an endorsement to growing expectations that interest rates are headed higher. This is a positive signal for the British currency!

Investment idea: buy 1.3890 and take profit 1.3970.

David Johnson
Analyst of «FreshForex» company
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