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The coronavirus is pandemic

The coronavirus is pandemic | 13 March 2020

13 March 2020, GBP/USD

The coronavirus is pandemic

GBPUSD trading plan:

The World Health Organization declared the COVID-19 novel coronavirus a pandemic. The WHO reported on March 13 that the number of cases has reached 136,108 with 4,950 deaths.  Investors are expecting the Federal Reserve to cut interest rates again aggressively at its policy meeting next week to counter the coronavirus. That followed the Fed's surprise 50 basis rate cut last week, which failed to stabilize markets. Authorities are rushing to introduce travel bans, extra financial liquidity and monetary easing as the rapid spread of the virus across the world slams the brakes on the global economy.

Trading recommendation: range 1.2555 -1.2650.

David Johnson
Analyst of «FreshForex» company
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