29 September 2020, GBP/USD
GBPUSD trading plan:
The European Union will not leave the negotiating table with Britain on a future trade relationship even if London pushes ahead with its withdrawal treaty-breaking internal market bill European Commission Vice President Maros Sefcovic said. "The introduction of the internal market bill and the contentions articles created a very difficult political situation," Sefcovic said. Bank of England deputy governor for markets and banking governor policymaker Dave Ramsden said that while the BoE was "duty bound" to review negative rates as a potential policy tool, it was not expected to cut rates below zero "imminently." "For me, I see the effective lower bound still at 0.1 which is where Bank Rate is at present," Ramsden said. This is a positive signal for the British currency.
Trading recommendation: Buy 1.2832 and take profit 1.2901.
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