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Positive signals for the pound sterling

Positive signals for the pound sterling | 19 August 2019

19 August 2019, GBP/USD

Positive signals for the pound sterling

GBPUSD trading plan:

Investment funds are cutting sales of the British currency according to the latest CFTC report. Positive macroeconomic statistics from the United Kingdom on the labor market and retail trade were positively reflected on the value of the pound sterling. Investors are expected the Federal Reserve to cut interest rates twice this fall. The yield 2-Year US government bond is 1.487%, which is 0.638% down than the interest rate of the Federal Reserve. This is factored forces investors to sell the U.S. dollar and buy the British pound sterling.

Trading recommendation: Buy 1.2130 and take profit 1.2170.

David Johnson
Analyst of «FreshForex» company
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