Bank of England meeting results
- Total amount of the QE program of the Bank of England (November), fact 435B, forecast 435B.
- Interest rate decision (November), fact 0.75%, forecast 0.75%.
As expected, the Bank of England kept its monetary policy unchanged. At the same time, the British pound continues to strengthen against its main competitors. It is mainly associated with a decrease in the US dollar and evidence that the Brexit deal is at the final stage. Earlier it was reported that the EU and the United Kingdom reached an agreement on financial relations, which in fact indicates the achievement of an agreement for the financial market.
The pair GBP/USD remains in an uptrend on the weakness of the US dollar. According to the British pound, the market is still awaiting the speech of the Bank of England Governor, but the main driver for the strengthening of the British pound is the news on Brexit. Resistance levels: 1.2950 and 1.2980, support: 1.2880 and 1.2850.
GBP/USD chart. Current price – 1.2920
Read also: “Bitcoin versus gold, what is more valuable”
Hanzenko Anton
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog:
- Oil market expectations for November
- GDP of the world’s fast-growing economies
- Dow Theory – the basics of technical analysis.
Current Investment ideas:
- Easier on corners! Intel shares can bring a good profit on the reversal!
- The consumer giant is weakening to resume the growth! Connect!