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The decline in Core PCE price index

The decline in Core PCE price index | 30 April 2019

30 April 2019, GBP/USD

GBPUSD trading plan:

The British currency may test the psychological level of 1.3000 this week. Investors will close long positions on the U.S. currency, fearing the FOMC meeting. Core PCE price index 1.6 percent - the smallest increase since January 2018. This is a negative signal for the U.S. dollar! Investors expect the FED to reduce interest rates at a meeting in the fourth quarter of 2019. The U.S. dollar is losing important support! The FED tight monetary policy in 2018 provided strong support to the dollar, and now the situation is changing. The bullish trend in the oil market will provide additional support to the British currency. We expect growth in the value of BRENT to the level of 73.10.

Trading recommendation: Buy 1.2927 and take profit 1.3000

David Johnson
Analyst of «FreshForex» company
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