The negative factor for the British currency | 11 November 2019
11 November 2019, GBP/USD
GBPUSD trading plan:
Moody's cut the forecast for the UK's rating from stable to negative, confirming the rating itself at Aa2. In a press release the decline in the rating forecast is due to two factors. British institutions have weakened as they have struggled to cope with the scale of the political challenges. The UK's economic and financial strength is likely to be weaker in the future. This is a negative factor for the British currency. The decision of the credit agency Moody's will force investors to increase short positions on the pound sterling.
Trading recommendation: Sell 1.2810 and take profit 1.2779.
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.
