DAILY NOTION - FOLLO...from Insights Board - FOLLOWME Trading Community

06 Nov 2020, 15:45 · Views 1,636

DAILY NOTION - FOLLOWME x TradingCentral - Bank of England increases QE Program - Nov 6, 2020

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06 Nov 2020

EUR/GBP is navigating choppy waters. The pair remains within a downward-sloping channel and is capped by the declining 50-DMA. The RSI struck against its neutrality area at 50% and is reversing down. As long as 0.9163 is resistance, expect a further decline towards horizontal support thresholds at 0.8783 and 0.8677. Alternatively, a break above 0.9163 would call for a reversal up trend towards 0.9342 and 0.9449.

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06 Nov 2020

The Bank of England (BoE) decided to keep interest rates on hold at 0.10% as expected. BoE announced an increase of 150 billion pounds in its asset repurchase program, bringing it to 895 billion pounds to cope with the negative consequences of the second lockdown.

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