The bearish rally | 28 November 2019

GBPUSD trading plan:

We are expecting a bearish rally. Profits at British professional and business services firms dropped by the most since 2011 for a second quarter running and businesses are cutting back on investment, said the Confederation of British Industry. The professional and business services profitability gauge held at August's level of -25, the lowest since November 2011, while plans to invest in vehicles, plant and machinery were the weakest since 2010. Overall optimism for consumer services firms fell again albeit at a slightly slower pace of -25 in November compared with -28 in August, while for business and professional services companies it picked up to -20 from -31.

Trading recommendation: Sell 1.2935 and take profit 1.2911.

TRADE OILS WITHOUT SWAPS!