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Positive macroeconomic statistics from the UK

Positive macroeconomic statistics from the UK | 20 December 2019

20 December 2019, GBP/USD

Positive macroeconomic statistics from the UK

GBPUSD trading plan:

Positive macroeconomic statistics from the UK will have a positive impact on the value of the sterling. Confidence among British consumers and businesses rose to the highest level in five months in the run-up to Prime Minister Boris Johnson's emphatic election victory last week. Consumer confidence rose to -11 in December from -14 in November, according to the long-running survey from market research firm GFK. The positive dynamics of the oil market will provide additional support to the British currency. Oil prices held steady near three-month highs. The Organization of Petroleum Exporting Countries and its allies including Russia agreed in early December to make a further cut of 500,000 barrels per day from Jan. 1 on top of previous reductions of 1.2 million bpd.

Trading recommendation: Buy 1.3040 and take profit 1.3090.

TRADE OILS WITHOUT SWAPS!

David Johnson
Analyst of «FreshForex» company
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