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Political crisis

Political crisis | 02 July 2019

02 July 2019, GBP/USD

Political crisis

GBPUSD trading plan:

Investment funds increase sales of the British currency. CFTC reports signal the maximum sales of the British currency over the past four months. Boris Johnson has pledged to leave the EU with or without a deal on Oct. 31. A group of pro-European Union lawmakers failed on Monday in their latest bid to prevent Britain leaving the bloc without an exit deal, after parliament's speaker did not choose their proposal to be put to a vote. High political risks force investors to sell British assets. British manufacturers had their worst month in more than six years and consumers increased their borrowing at the slowest pace since 2014. The overall PMI slumped to 48.0 in June from May's 49.4 and its lowest reading since February 2013.

Trading recommendation: Sell 1.2660 and take profit 1.2620.

David Johnson
Analyst of «FreshForex» company
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