Investment funds buy British currency | 16 April 2019

GBPUSD trading plan:

British businesses have held back on plans for investment ever since it became clear that Britain was going to hold a referendum on its membership of the EU. Public confidence in the economic outlook is weaker in Britain than in any other EU country, according to European Commission data. The strong UK labour market has a positive impact on the economy. The pay growth has rebounded in recent months, helping to support consumer spending. CFTC Commitment of Traders indicates an increase in purchases of the British currency by investment funds. This is a positive signal.

Trading recommendation: Buy 1.3070 and take profit 1.3140.