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Bank of England's positive outlook

Bank of England's positive outlook | 19 March 2021

19 March 2021, GBP/USD

Bank of England's positive outlook

GBPUSD trading plan:

The MPC’s central projections in the February Monetary Policy Report assumed that Covid-related restrictions and people’s health concerns would weigh on activity in the near term, but that the vaccination programme would lead to those easing, such that UK GDP was projected to recover strongly over 2021 towards pre-Covid levels. The rates of Covid infections and hospitalisations have fallen markedly across the United Kingdom and the vaccination programme is proceeding at a rapid pace. Plans for the easing of restrictions on activity have been announced and envisage that restrictions could be lifted somewhat more rapidly than was assumed in the February Report. This is a positive signal for the British currency.

Investment idea: buy 1.3905 and take profit 1.3990

David Johnson
Analyst of «FreshForex» company
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