On Thursday, the Bank of England (BoE) hiked the policy rate by 50 basis points to 4.00%. Analysts at Danske Bank expect the increasingly weak growth outlook to support a near-term ending to the hiking cycle.
Our Analysis:
While the price is above 1.1100, follow the recommendations below: - Time frame: D1
- Recommendation: long position
- Entry point: 1.1170
- Take Profit 1: 1.1400
- Take Profit 2: 1.1500
Alternative scenario:
If the level of 1.1100 is broken-down, follow the recommendations below: - Time frame: D1
- Recommendation: short position
- Entry point: 1.1100
- Take profit 1: 1.1000
- Take profit 2: 1.1090
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