18 June 2020, GBP/USD
GBPUSD trading plan:
Bank of England will boost its quantitative easing program by between 100 and 150 billion pounds. The U.K. economy has been particularly hard hit by the COVID-19 outbreak, and is forecast to shrink the most of all G7 economies this year by the Organization for Economic Cooperation and Development. An expectation is driven in part by practical consideration. If purchases continue at the current pace, the target will be reached around the September meeting - leaving the MPC in a position to take a rushed decision after the summer. This is a negative signal for the British currency!
Trading recommendation: Sell 1.2540 and take profit 1.2500.
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