31 Marzo 2020, GBP/USD
GBPUSD trading plan:
Good and bad news for the British currency. Ratings agency Fitch cut Britain's sovereign debt rating, saying the country's debt levels would jump as the government ramped up its spending to offset the near shutdown of the economy in the face of coronavirus COVID-19. Fitch downgraded the country by one notch to 'AA-'. This factor forces investors to sell UK bonds. This is negative news for the pound. The U.S. president Donald Tramp said he does not want to see the energy sector “wiped out” over low oil prices brought on by the conflict between Russia and Saudi Arabia. This is a positive signal for the oil market and the British currency, as assets correlate with each other.
Trading recommendation: range 1.2255 -1.2355.
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