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The bullish rally in the British currency

The bullish rally in the British currency | 03 December 2019

03 December 2019, GBP/USD

The bullish rally in the British currency

GBPUSD trading plan:

We are expecting a bullish rally in the British currency! British shoppers picked up the pace of their spending last month. The British Retail Consortium said adjusted sales rose 0.9% year-on-year, the biggest increase since January, apart from April when the timing of Easter gave a calendar-related boost to sales. Britain's consumers, buoyed by rising pay and modest inflation, have helped the economy to grow. The oil market will provide additional support to the pound sterling as GBPUSD and BRENT correlate with each other. Investors expect the extension of the OPEC + agreement for three months until April 1, 2020, which will have a positive impact on the cost of oil.

Trading recommendation: Buy 1.2965 and take profit 1.3010.

TRADE OILS WITHOUT SWAPS!

David Johnson
Analyst of «FreshForex» company
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