07 May 2021, GBP/USD
GBPUSD trading plan:
At its meeting ending on 5 May 2021, 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%. New Covid cases in the United Kingdom have continued to fall, the vaccination programme is proceeding apace, and restrictions on economic activity are easing. Reflecting these developments, GDP is expected to rise sharply in 2021 Q2. Demand for workers from British employers soared this month at the fastest rate since the late 1990s as much of the economy reopened following the latest coronavirus lockdown, a survey of recruitment consultants showed. While the labour market remains a long way from its pre-pandemic state, the REC survey adds to signs that a swift recovery is underway, helped by Britain's swift roll-out of COVID-19 vaccines. This is a positive signal for the British economy.
Investment idea: buy 1.3890 and take profit 1.3940.
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