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A positive signal from the Bank of England

A positive signal from the Bank of England | 25 June 2021

25 June 2021, GBP/USD

A positive signal from the Bank of England

GBPUSD trading plan:

The Bank of England’s Monetary Policy Committee judged that the existing stance of monetary policy remained appropriate. The Committee voted unanimously for the Bank of England to maintain the stock of sterling non-financial investment-grade corporate bond purchases, financed by the issuance of central bank reserves, at £20 billion. Bank staffs have revised up their expectations for the level of UK GDP in 2021 Q2 by around 1½% since the May Report, as restrictions on economic activity have eased, so that output in June is expected to be around 2½% below its pre-Covid 2019 Q4 level. This recovery in activity has been most pronounced in the consumer-facing services for which restrictions were loosened in April.

Investment idea: buy 1.3915 and take profit 1.3990.

David Johnson
Analyst of «FreshForex» company
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