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Investors close short positions on the British currency

Investors close short positions on the British currency | 19 June 2019

19 June 2019, GBP/USD

Investors close short positions on the British currency

GBPUSD trading plan:

Investors close short positions on the British currency. We are expecting an increase in the value of the pound sterling today. Investors are expected lower interest rates from the Federal Reserve at the meeting on July 31. This is a negative signal for the U.S. currency. Bullish rally in the oil market will have a positive impact on the value of the British currency as there is a correlation between GBPUSD and #BRENT. Crude prices rose almost 3%. Donald Trump said he’ll resume trade talks with Chinese leader Xi at next week’s G-20.

Trading recommendation: Buy 1.2530 and take profit 1.2580.

David Johnson
Analyst of «FreshForex» company
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