21 August 2019, GBP/USD
GBPUSD trading plan:
The pound rose after German Chancellor Angela Merkel said the European Union would think about practical solutions regarding the post-BREXIT Irish border. Investors close short positions on the British currency. The decline in US government bond yields has a negative impact on the dollar. The yield of 2-Year US government bonds is 1.528%, which is 0.597% lower than the Federal Reserve rate. This is a negative signal for the dollar! Investors are also awaiting the Central bank’s annual Jackson Hole seminar later this week and a Group of Seven summit this weekend for clues on what additional steps policymakers will take to boost economic growth.
Trading recommendation: Buy 1.2120 and take profit 1.2180.
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