The excess of dollar liquidity in the banking system | 28 Julio 2020

28 Julio 2020, GBP/USD

The excess of dollar liquidity in the banking system

GBPUSD trading plan:

The Federal Reserve has published a government bond buyback schedule in the next two weeks. A high volume of transactions is scheduled for July 28, 31. The maximum volume is today. US bankers no longer apply to the Federal Reserve for short-term refinancing. The last 14 days, REPO auctions are recognized as not held due to the lack of bids - this is the maximum period this year. It is negative for the dollar, because it signals an excess of dollar liquidity in the banking system.

Trading recommendation: Buy 1.2840 and take profit 1.2900.

David Johnson
Analyst of «FreshForex» company
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