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Political risk | 22 May 2019

22 May 2019, GBP/USD

Political risk

GBPUSD trading plan:

Britain will not leave the European Union unless its Brexit deal can win the support of political parties across parliament, said Prime Minister Theresa May. The political crisis in the United Kingdom is intensifying. The Labour party disagrees with the Prime Minister on many issues. Investment funds are afraid to buy the British currency against the background of political risks. Negative macroeconomic statistics from the UK discourage investors. The Confederation of British Industry's (CBI) monthly order book balance fell to -10 from -5 in April, its lowest level since October 2016.

Trading recommendation: Sell 1.2730 and take profit 1.2695.

David Johnson
Analyst of «FreshForex» company
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