06 August 2021, GBP/USD
GBPUSD trading plan:
The Bank of England’s Monetary Policy Committee judged that the existing stance of monetary policy remained appropriate. The MPC voted unanimously to maintain Bank Rate at 0.1%. The Committee voted by a majority of 7–1 for the Bank of England to continue with its existing program of UK government bond purchases, financed by the issuance of central bank reserves, maintaining the target for the stock of these government bond purchases at £875 billion and so the total target stock of asset purchases at £895 billion. Despite the spread of the Delta variant, the impact of Covid on the UK economy fades further over time. UK GDP is expected to have risen by 5% in 2021 Q2, leaving it around 4% below its pre-pandemic level and slightly stronger than expected in the May Report.
Investment idea: range 1.3875 -1.3960.
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