The price of the British pound continues to trade near strong level 1.6300. As was expected, the statement of the Bank of England indicated the consistency of monetary policy. The interest rate has remained at a record low level 0.50%, where it has been since March 2009. Commission on the monetary policy of the Bank of England has left the amount of asset purchases at 375 billion pounds. Earlier, the Bank of England stated that it will start to consider raising interest rates after unemployment rate will decrease to 7%. Currently, unemployment in the U.K. is 7.1%.
After a long decline, we expect an upward correction. At the same time, the price can reach the mark 1.64. Decrease is limited by the support level placed at 1.6260
Wish you the profits!
FXFINPRO Capital Analytical department.