GBP/AUD Signal - BoE Interest Rate Decision - 18 Mar 2021

Signal Details

Entry Price:

1.3940

Take Profit:

1.7772

Stop Loss:

1.7907

Direction:

Buy

How we trade

GBPAUD has reached a support structure & support trendline prior to the GBP BoE Rate decision. If the BoE is hawkish about the inflationary outlook of the economy and raises the interest rates it is positive, or bullish, for the GBP. Likewise, if the BoE has a dovish view on the UK economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish. Technically the pair looks set for upside and we are looking for the upside position.

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Submitted by Toni H. on Thu, 18 Mar 2021 03:31:41 GMT

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Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion. All risks and coasts associated with online trading are your responsibility.

GBP/AUD Signal - BoE Interest Rate Decision - 18 Mar 2021

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