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Good and bad news for the pound sterling

Good and bad news for the pound sterling | 25 April 2019

25 April 2019, GBP/USD

Good and bad news for the pound sterling

GBPUSD trading plan:

Good and bad news for the pound sterling. Yield United Kingdom 10-Year rapidly falling - this is a bad signal for the British currency! The good news is the bullish trend in the oil market, as the pound and oil have a direct correlation. Saudi Energy Minister Khalid al-Falih added to the fear quotient on Wednesday by saying the kingdom had no intention of ramping up production preemptively to offset the impact of lost Iranian barrels. Any increase would have to be need-based, coming directly from buyers, Falih added. The tough position of Saudi Arabia will allow BRENT oil to test the level of 75$/barrel this week.

Trading recommendation: range 1.2875 -1.2950.

David Johnson
Analyst of «FreshForex» company
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