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Good and bad news for the British currency

Good and bad news for the British currency | 24 April 2019

24 April 2019, GBP/USD

Good and bad news for the British currency

GBPUSD trading plan:

Good and bad news for the British currency. The good news is the bullish rally in the oil market, since GBPUSD and BRENT have a direct correlation. Investors are buying oil contracts amid geopolitical tensions in Iran. The United States on Monday demanded that buyers of Iranian oil stop purchases by May 1 or face sanctions, ending six months of waivers which allowed Iran's eight biggest buyers, most of them in Asia, to continue importing limited volumes. The bad news for the British currency is the growth of the dollar against the currencies of emerging markets.

Trading recommendation: range 1.2900 -1.2970.

David Johnson
Analyst of «FreshForex» company
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