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Investors are increasing long positions

Investors are increasing long positions | 06 September 2019

06 September 2019, GBP/USD

Investors are increasing long positions

GBPUSD trading plan:

The British Parliament won the battle with Prime Minister Boris Johnson. Investors are increasing long positions on the British currency. An election before BREXIT would allow Johnson, if he won, to repeal the blocking bill. Boris Johnson loses his political rating. Bullish rally in the oil market will positively affect the value of the British currency. Oil inventories from the United States declined by 4.77 million barrels last week, the Energy Information Administration. Gasoline inventories fell by 2.4 million last week, compared with expectations from a drop of about 1.52 million barrels. We're expecting to test the level of 62.00 in Brent oil today.

Trading recommendation: Buy 1.2295 and take profit 1.2354.

David Johnson
Analyst of «FreshForex» company
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