A technical correction | 27 September 2019

27 September 2019, GBP/USD

A technical correction

GBPUSD trading plan:

We are expecting a technical correction for the British currency. The Federal Reserve increases the volume of purchases of government bonds of the United States, which reduces the interest rates on debt instruments. This is a negative signal for the U.S. currency. Macroeconomic statistics from the United States on personal consumption expenditures may disappoint investors with negative data. We are expecting the release of data worse than the median of forecasts, which will force investors to close long positions on the U.S. dollar.

Trading recommendation: Buy 1.2250 and take profit 1.2315.

David Johnson
Analyst of «FreshForex» company
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