Results of the BoE meeting

The first meeting of the Bank of England in 2018 did not differ in significant decisions. Interest rates remained at the same level of 0.50%. The main strengthening of the British was due to the growth of the UK economy by 0.5% against the forecast of 0.4%. At the same time, expectations for maintaining the target inflation level of 2% and economic recovery remain very optimistic.

The main strengthening of the pound fell on the US dollar and the Japanese yen, but the euro is under considerable pressure. The fixing of the GBP/USD pair above the 1.4000 mark will indicate the possibility of further growth of the British to resistance levels: 1.4050-70 and 1.4120-40. Support is located at the levels: 1.3960 and 1.3940.

Fig. GBP/USD – 1.3970.

Hanzenko Anton