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Negative signal from the Federal Reserve

Negative signal from the Federal Reserve | 06 November 2020

06 November 2020, GBP/USD

Negative signal from the Federal Reserve

GBPUSD trading plan:

The Federal Reserve is committed to using its full range of tools to support the U.S. economy. The Federal Reserve decided to keep the target range for the federal funds rate at 0 to 1/4 percent and expects it will be appropriate to maintain this target range until labor market conditions have reached levels consistent with the Committee's assessments of maximum employment. FOMC will increase its holdings of Treasury securities and agency mortgage-backed securities at least at the current pace to sustain smooth market functioning and help foster accommodative financial conditions. This is a negative signal for the dollar!

Trading recommendation: Buy 1.3115 and take profit 1.3172

David Johnson
Analyst of «FreshForex» company
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