New asset purchase programme | 28 اكتوبر 2020

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.