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Investors are expecting a reduction in FOMC rates

Investors are expecting a reduction in FOMC rates | 06 August 2019

06 August 2019, GBP/USD

Investors are expecting a reduction in FOMC rates

GBPUSD trading plan:

We are expecting the continuation of the bullish trend on the British currency. CME Group's FedWatch it is signals a decrease in interest rates of the Federal Reserve on September 18. The two-year yield U.S. government bonds which is sensitive to investors' view on Fed policy, touched 1.58%, its lowest since November 2017. Britain's dominant services sector unexpectedly perked up in July -the IHS Markit/CIPS UK Services Purchasing Managers' Index rose to a nine-month high of 51.4 from 50.2 in June. This factor will have a positive impact on the value of the British currency.

Trading recommendation: Buy 1.2134 and take profit 1.2190.

David Johnson
Analyst of «FreshForex» company
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