14 January 2020, GBP/USD
GBPUSD trading plan:
We are expecting a downtrend to develop. Negative macroeconomic statistics will force investors to increase short positions on the British currency. Manufacturing output fell 1.7% in November, partly reflecting car factories shutting down to avoid supply disruptions around the now-postponed Oct. 31 Brexit deadline. Bank of England Governor mark Carney admits the possibility of lowering interest rates in a few months. The decline in industrial production signals a negative trend in the British economy. This is a bad signal for the pound!
Trading recommendation: Sell 1.3004 and take profit 1.2975.