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The positive dynamics of the credit market

The positive dynamics of the credit market | 02 September 2019

02 September 2019, GBP/USD

GBPUSD trading plan:

We are expecting the bull rally to continue for two reasons. The first is the positive dynamics of the credit market. UK government bond yields are showing steady growth. This is factored has traditionally supported the pound. The second reason is the optimism of investment funds that operate in futures markets. Investors have been cutting short positions on the British currency for three weeks in a row, according to the latest CFTC report. We are expecting a moderate increase in sterling quotations, as the United States is closed today.

Trading recommendation: Buy 1.2141 and take profit 1.2180.

David Johnson
Analyst of «FreshForex» company
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