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Good day for the British currency

Good day for the British currency | 20 June 2019

20 June 2019, GBP/USD

Good day for the British currency

GBPUSD trading plan:

Good day for the British currency. The first reason for the bullish trend is the decline in US government bond yields. The Federal Reserve has changed its inflation forecast. The pace of inflation, which has longed lagged the Fed's 2% target, is forecast to cool to a rate of 1.5% this year, down from 1.8%. Core PCE inflation for 2020 was also revised lower to 1.9% from 2.0%.The second reason for the bullish trend is the positive dynamics of the oil market. Oil production and hydrocarbon reserves in the United States showed a decline that had a positive impact on the cost of oil.

Trading recommendation: Buy 1.2670 and take profit 1.2730.

David Johnson
Analyst of «FreshForex» company
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