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A positive signal for the British currency

A positive signal for the British currency | 08 May 2019

08 May 2019, GBP/USD

GBPUSD trading plan:

No important macroeconomic statistics are expected today. Financial markets are waiting for the results of trade negotiations between the US and China, which will begin tomorrow. We will receive the first results of the talks only on Friday, May 10. Traders will look closely at the dynamics of the oil market today, as there is a direct correlation between the British currency and oil. We expect the growth of oil prices against the backdrop of geopolitical tensions in Iran and Venezuela. This is a positive signal for the British currency!

Trading recommendation: Buy 1.3038 and take profit 1.3118.

David Johnson
Analyst of «FreshForex» company
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