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Good and bad news for the British currency

Good and bad news for the British currency | 30 May 2019

30 May 2019, GBP/USD

Good and bad news for the British currency

GBPUSD trading plan:

Good and bad news for the British currency. The good news is the rising cost of oil, as there is a correlation between black gold and the British currency. Rising geopolitical tensions in the Persian Gulf will support oil prices. The United States accuses Iran of attacking Saudi Arabia's oil tankers. China and India refuse to buy Iranian oil. The bad news is negative macroeconomic statistics from the United Kingdom. Business and professional services companies reported the biggest fall in the volume of work since August 2012. Business investment fell throughout 2018 as companies waited for clarity on the terms of Brexit.

Trading recommendation: range 1.2590 -1.2665.

David Johnson
Analyst of «FreshForex» company
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