15 May 2019, GBP/USD
GBPUSD trading plan:
Good and bad news for the British currency. The good news is the positive dynamics of the labor market. Britain's unemployment rate fell to its lowest since the mid-1970s in early 2019. The rate edged down to 3.8% in the first quarter- unemployment dropped by 65,000, the most in more than two years. The strength of the labour market has pushed wages up more quickly than the Bank of England has forecast, leading some traders to think it might raise interest rates faster. The bad news is the continuation of the political crisis in the United Kingdom. Thirteen of May’s former cabinet colleagues wrote to May on Tuesday to ask her not to agree to Labour's demand for a post-Brexit customs union with the EU. May, who has repeatedly ruled out signing up to a permanent customs union, has said that if the talks with Labour fail parliament could be asked to vote on a range of Brexit options.
Trading recommendation: range 1.2875- 1.2955.
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