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Good and bad news for the British currency

Good and bad news for the British currency | 12 November 2019

12 November 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 a bullish rally in the oil market. The IPO of Saudi Aramco will have a positive impact on the price of oil in the next five trading weeks. The bad news is negative macroeconomic statistics from the United Kingdom. Annual gross domestic product growth fell to 1.0% in the third quarter from 1.3% in the April-June period, the Office for National Statistics said, its lowest since early 2010. Britain's economy has lost momentum since the 2016 BREXIT referendum, before which it typically grew more than 2% a year.

Trading recommendation: range 1.2800 -1.2860.

TRADE OILS WITHOUT SWAPS!

David Johnson
Analyst of «FreshForex» company
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