10 January 2020, GBP/USD
GBPUSD trading plan:
The Bank of England Governor Mark Carney signaled that an interest-rate cut could still be on the horizon. This is a negative signal for the British currency. The central bank was debating the merits of near-term stimulus, adding that a rebound from Brexit uncertainty wasn’t guaranteed and that U.K. economic growth was below potential. Investors are increasing short positions in the oil market which is a negative signal for the British currency. Oil and the pound are correlated.
Trading recommendation: Sell 1.3088 and take profit 1.3048.