Good and bad news | 15 نوفمبر 2019

GBPUSD trading plan:

Good and bad news for the British currency. British consumers cut back on their shopping in October. The retail sales volumes unexpectedly fell by 0.1%, and annual sales growth held at 3.1%, bucking average forecasts for a pick-up to 3.7%. In the three months to October sales rose just 0.2% compared with the previous three months, an 18-month low. The only retailers to do well in October were department stores, which benefited from sales promotions and an earlier introduction of Christmas lines. This is a negative factor for the British currency! The good news is capital inflows into high-yielding assets, as the pound correlates with these assets.

Trading recommendation: range 1.2844 -1.2920.

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