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Good and bad news for the British currency

Good and bad news for the British currency | 23 July 2019

23 July 2019, GBP/USD

Good and bad news for the British currency

GBPUSD trading plan:

Good and bad news for the British currency. The good news is the bullish rally in the oil market. The British currency and oil are correlated. Geopolitical tensions in the Persian Gulf are forcing traders to increase their long positions #BRENT. Traders continued to monitor the developments in Iran. We're expecting testing of the level of 64.30. The bad news is the high political risks in the United Kingdom. Boris Johnson has pledged to leave the EU with or without a deal on Oct. 31. Investment funds increase sales of the British currency.

Trading recommendation: range 1.2400 -1.2465.

David Johnson
Analyst of «FreshForex» company
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