Good and bad news | 21 May 2020

21 May 2020, GBP/USD

Good and bad news

GBPUSD trading plan:

Negative macroeconomic statistics from the UK force investors to sell the pound. Britain's inflation dropped to an annual rate of 0.8%from 1.5% in March, official data showed on Wednesday. That was the sharpest one-month fall in over a decade and took inflation further below the BoE's 2% target. Deputy Governor Ben Broadbent has said it could drop below zero by the end of 2020. A bullish rally in the oil market will support the pound. Oil inventories fell by about 5 million barrels for the week ended May 15, the EIA said. Cushing hub inventories fell another 5.8 million barrels, almost aligning with the decline in total inventories.

Trading recommendation: range 1.2190 -1.2260.


The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
David Johnson
Analyst of «FreshForex» company
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