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Policy once again controls the UK foreign exchange market

Policy once again controls the UK foreign exchange market | 19 March 2019

19 March 2019, GBP/USD

Policy once again controls the UK foreign exchange market

GBPUSD trading plan:

Policy once again controls the UK foreign exchange market. Speaker of parliament John Bercow said the government could not bring forward proposals for a vote in parliament that were substantially the same as had already been defeated twice before, in January and last week. The parliamentary opposition still wants the resignation of the Prime Minister. EU leaders have ruled out renegotiating the exit deal. Investors are afraid to buy British assets. Investment funds sell British currency. According to the CFTC: the number of net speculative positions on the pound decreased by 2,800 contracts.

Trading recommendation: Sell 1.3279 and take profit 1.3250.

David Johnson
Analyst of «FreshForex» company
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