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Good and bad news for the British currency

Good and bad news for the British currency | 26 Diciembre 2019

26 Diciembre 2019, GBP/USD

Good and bad news for the British currency

GBPUSD trading plan:

Good and bad news for the British currency. The negative dynamics of the debt market indicates the development of a downward trend in the British currency. The positive news for the sterling is a bullish rally in the oil market. Pricing and capital costs means U.S. production growth is set to slow to 900,000 barrels a day next year, according to government forecasts. That’s down from 1.3 million b/d this year and 1.6 million b/d in 2018. For the first time in at least three years, the U.S. will not meet all incremental global demand on its own. The IEA expects world oil demand to rise by an average of 1 million barrels a day over 2020.

Trading recommendation: range 1.2940 -1.3000.

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David Johnson
Analyst of «FreshForex» company
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