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Negative comments of the head of the Bank of England

Negative comments of the head of the Bank of England | 10 January 2020

10 January 2020, GBP/USD

Negative comments of the head of the Bank of England

GBPUSD trading plan:

The Bank of England Governor Mark Carney signaled that an interest-rate cut could still be on the horizon. This is a negative signal for the British currency. The central bank was debating the merits of near-term stimulus, adding that a rebound from Brexit uncertainty wasn’t guaranteed and that U.K. economic growth was below potential. Investors are increasing short positions in the oil market which is a negative signal for the British currency. Oil and the pound are correlated.

Trading recommendation: Sell 1.3088 and take profit 1.3048.

David Johnson
Analyst of «FreshForex» company
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