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Good and bad news for the British currency

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

30 July 2019, GBP/USD

Good and bad news for the British currency

GBPUSD trading plan:

Good and bad news for the British currency. The bad news is the Britain leaves the EU without a deal on Oct. 31. British consumer spending has been a driving force of growth since the BREXIT referendum, helping to offset a drying up of business investment. But in recent months it has lost momentum. Investment funds increase their short positions on the pound sterling. The good news is the bullish rally in the oil market. Geopolitical tensions in the Persian Gulf will have a positive impact on oil prices. We're expecting an increase in the price of oil #BRENT to the level of 64.80.

Trading recommendation: range 1.2180 -1.2280.

David Johnson
Analyst of «FreshForex» company
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