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Positive dynamics of the credit market

Positive dynamics of the credit market | 23 April 2020

23 April 2020, GBP/USD

Positive dynamics of the credit market

GBPUSD trading plan:

Rates on U.S. dollar loans are falling in the London interbank market, while interest rates on loans are rising in British currency. This is positive signal for pound sterling, since excess dollar liquidity has a negative effect on the exchange rate of the U.S. dollar. The interest rate on a three-month loan in U.S. currency in London is 1.043%. This rate was 13.2 basis points higher a week ago. The interest rate on a three-month loan in British currency in London is 0.645%. A week ago, this indicator was 1.5 basis points lower.

Trading recommendation: Buy 1.2335 and take profit 1.2385.

David Johnson
Analyst of «FreshForex» company
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