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Psychological level 1.2700

Psychological level 1.2700 | 23 May 2019

23 May 2019, GBP/USD

Psychological level 1.2700

GBPUSD trading plan:

The British currency can test the psychological level of 1.2700. Investors will close short positions, which will cause a technical correction up. British employers offered staff pay rises averaging 2.5% as part of wage settlements in the three months to April. This figure is 0.4% higher than the consumer price index. Consumer prices rose at an annual rate of 2.1% in April after a 1.9% increase in March, said the Office for National Statistics. This factor signals an increase in consumer spending in the next few months. This is a positive signal for the United Kingdom economy.

Trading recommendation: Buy 1.2630 and take profit 1.2700.

David Johnson
Analyst of «FreshForex» company
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