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Bad news for the British currency

Bad news for the British currency | 29 April 2019

29 April 2019, GBP/USD

Bad news for the British currency

GBPUSD trading plan:

Bad news for the British currency. The Confederation of British Industry's quarterly survey of the manufacturing industry showed expectations for export orders in the next three months fell to their lowest level since mid-2009, when Britain was reeling from the global financial crisis. Oil showed a strong decline in prices on Friday, which will negatively affect the value of the British currency, as there is a direct correlation between GBPUSD and BRENT. Two factors are forcing us to sell the British currency today.

Trading recommendation: Sell 1.2961 and take profit 1.2919

David Johnson
Analyst of «FreshForex» company
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