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Good and bad news for the British currency

Good and bad news for the British currency | 10 May 2019

10 May 2019, GBP/USD

Good and bad news for the British currency

GBPUSD trading plan:

Good and bad news for the British currency. The bad news is a positive us trade balance report for March. The overall trade deficit increased 1.5 percent to $50.0 billion in March. Traders had forecast the trade shortfall widening to $50.2 billion in March. This factor will have a positive impact on the value of the U.S. dollar. The bullish trend in the oil market will have a positive impact on the value of the British currency. Iran has given Europe an ultimatum to get the U.S. off its back or it will backtrack out of the old nuclear deal and begin enriching uranium - geopolitical tensions indicate a continuation of the bullish trend.

Trading recommendation: range 1.2975- 1.3056

David Johnson
Analyst of «FreshForex» company
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