UK Miles says presumptuos to think QE in Feb is a done deal
- QE will hinge on forecasts
- He adds that there is substantial spare capacity in the UK economy. This will persist into the future
- CPI is on a pretty steep downward path
- Confident it wil fall as forecast
- Would be no great surprise if the UK suffers technical recesssion
I don’t know why given the above statements it would not be extended but I guess he can have his opinion.
As fast as the GBPUSD went down, the pair has retraced 50% . The 200 bar MA and midpoint of the days range is the next target.









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