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Good and bad news | 23 January 2020

23 January 2020, GBP/USD

Good and bad news

GBPUSD trading plan:

Good and bad news for the British currency. The good news is the positive dynamics of the debt market. Investors are increasing their long positions on British debt assets. Negative macroeconomic statistics from the UK may cause a sell-off of the British currency. British employers offered their staff a median annual pay settlement of 2.2% in the three months to December, down from 2.6% in the three months to November. This is a bad signal for the British economy. Wages have a strong influence on inflation. The Bank of England is watching pay growth and the broader labor market as it weighs up whether to announce a cut to interest rates on Jan. 30.

Trading recommendation: range 1.3090 -1.3150.

David Johnson
Analyst of «FreshForex» company
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