The political crisis in the UK

16 May 2019, GBP/USD

The political crisis in the UK

GBPUSD trading plan:

The political crisis in the UK has a negative impact on the value of the British currency. "We made it clear that we would not be able to support Brexit legislation without a compromise agreement, otherwise we would have to vote again for the same deal" said an authoritative representative of the Labour party. Brexit should take place in October, but it may not be. Political risks contribute to the outflow of capital from British assets. Investors have been selling the British currency for two weeks and we are waiting for the downtrend to continue today.

Trading recommendation: Sell 1.2865 and take profit 1.2825.

David Johnson
Analyst of «FreshForex» company
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