21 January 2020, GBP/USD
GBPUSD trading plan:
Good and bad news for the British currency. Positive macroeconomic statistics from the UK will support the pound. Asking prices for U.K. homes increased by the most for any January on record in a sign that the Conservatives’ December election win boosted confidence. Values increased 2.3% on the month to an average 306,810 pounds Rightmove said in a report Monday. In London, they gained 2.1% from a month earlier, a departure from the years of Brexit-related uncertainty that disproportionately affected prices in the capital. Both upswings were the largest for the time of year since the house-price index started in 2002. A bearish rally in the oil market will have a negative impact on the value of the British currency. Traders appeared to shrug off earlier supply concerns following a force majeure declared by Libya on two major oilfields amid a military blockade.
Trading recommendation: range 1.2960 -1.3030.
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