19 September 2019, GBP/USD
GBPUSD trading plan:
Negative macroeconomic statistics from the UK signal a bearish trend. Prices of goods and services paid by consumers rose at an annual rate of 1.7% in August after a 2.1% increase in July - Consumer prices in Britain rose at the slowest rate since December 2016. The drop came despite a sharp fall in the value of sterling in August as the BREXIT crisis escalated, although it took more than a year for inflation to peak after the pound's post-referendum depreciation of 2016. An ONS measure of core inflation, which excludes energy, fuel, alcohol and tobacco, dropped to 1.5% versus forecasts for it to fall to 1.8%.This is a negative signal for the British currency!
Trading recommendation: Sell 1.2500 and take profit 1.2426.
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