Positive day for the British currency | 01 أغسطس 2019

GBPUSD trading plan:

Positive day for the British currency! The Federal Reserve cut its benchmark rate by 25 basis points to a range of 2.0% to 2.25% from 2.25% to 2.5%. The most recent measure of core personal consumption expenditures, the Fed's preferred measure of inflation, came in at 1.7%, below the central bank's 2% target. In a move to further ease financial conditions, the central bank pledged to end its balance sheet shrinking program, which many argue counters rate cuts, at the end of the month, two months earlier than initially anticipated. This is a negative signal for the U.S. dollar!

Trading recommendation: Buy 1.2104 and take profit 1.2160.