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Good and bad news for the British currency

Good and bad news for the British currency | 23 September 2020

23 September 2020, GBP/USD

GBPUSD trading plan:

Britain needs to take negotiations more seriously with the European Union if London wants a deal on future trade ties after Brexit, Germany said. "We need to work hard to reach this goal (of a deal) but at some point the games have to stop, we need serious discussions," Germany's Minister of State for Europe Michael Roth said. Britain's Prime Minister Boris Johnson warned the country was at a “perilous turning point” and reversed the lifting of some lockdown measures in England. This is negative news for the pound. Today the US Treasury will redeem $ 1.5 billion in Treasury bonds, and the Federal Reserve will buy $ 1.7 billion in Treasury bonds. Thus, the financial system will receive just over $ 3.2 billion, which will support the "high-yield" assets, which correlates with the British currency.

Trading recommendation: range 1.2688 -1.2765.

David Johnson
Analyst of «FreshForex» company
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