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The uncertain fundamental background

The uncertain fundamental background | 03 May 2019

03 May 2019, GBP/USD

The uncertain fundamental background

GBPUSD trading plan:

The uncertain fundamental background is formed for the British currency. Bank of England Governor Mark Carney said on Thursday investors were underestimating how much interest rates could rise, even as the British central bank kept borrowing costs on hold due to BREXIT uncertainty. Unemployment is at a 44-year low, wages are growing at the fastest pace in 10 years and consumer spending remains solid. This is a moderately positive signal for the British currency. The fall in the price of oil will have a negative impact on the British pound, as there is a correlation between GBPUSD and BRENT. Oil is trading at the lowest level in the last three weeks.

Trading recommendation: range 1.2985 -1.3065.

David Johnson
Analyst of «FreshForex» company
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