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Trade talks | 19 May 2020

19 May 2020, GBP/USD

GBPUSD trading plan:

United Kingdom and the United States both have "high ambition" to reach agreement on services, investment and digital trade as part of bilateral trade talks that began this month, Britain's international trade department said. This is a positive signal for the British currency! Additional support for the pound will be provided by a bullish rally in the oil market. Crude-oil production from seven major U.S. shale plays is forecast to decline by 197,000 barrels a day in June to 7.822 million barrels a day, according to a report from the Energy Information Administration released.

Trading recommendation: Buy 1.2225 and take profit 1.2275.

David Johnson
Analyst of «FreshForex» company
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