The bullish rally | 01 November 2019

GBPUSD trading plan:

We are expecting the bullish rally in the British currency to continue. Johnson called the general election -- Britain’s first in the month of December since 1923 -- to break the deadlock in Parliament, which has failed over the past three years to pass a deal to take the U.K. out of the European Union and deliver on the result of the 2016 BREXIT referendum. The reaching a BREXIT deal with the European Union, Johnson has both shifted the debate away from a possible no-deal BREXIT and wrong-footed Nigel Farage’s BREXIT Party, which may now decide not to put forward candidates in most districts.

Trading recommendation: Buy 1.2940 and take profit 1.2975.