Good and bad news for the British currency

12 September 2019, GBP/USD

GBPUSD trading plan:

Good and bad news for the British currency. The good news is the U.S.-China truce in the trade war. China said it will exempt a range of U.S. goods from 25% of extra tariffs. Officials from China and the U.S. are due to meet in Washington in October. This factor will have a positive impact on the value of oil and the British currency, as both assets are correlated. The bad news is the negative dynamics of the debt market. UK government bond yields are declining which is negative for the pound. The political crisis in the United Kingdom is having a negative impact on the British government bond market.

Trading recommendation: range 1.2300-1.2350.


David Johnson
Analyst of «FreshForex» company
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