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The political crisis in the UK

The political crisis in the UK | 29 August 2019

29 August 2019, GBP/USD

GBPUSD trading plan:

The political crisis in the UK forces investors to fix profits on long positions. The British currency showed a bullish rally for two weeks and we're expecting a technical correction. British Prime Minister Boris Johnson moved to suspend parliament, seen as a bid to limit debate ahead of the Oct. 31 deadline for the UK to leave the European Union. That increased expectations of a "no-deal Brexit," which would mean a departure without trading agreements in place. This is a negative factor for the British currency!

Trading recommendation: Sell 1.2222 and take profit 1.2180.

David Johnson
Analyst of «FreshForex» company
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