Traders see a 68% chance of a quarter-point cut by September | 20 February 2020

GBPUSD trading plan:

Federal Reserve policymakers agreed that current stance on monetary policy was likely to remain appropriate "for a time" to sustain economic growth and support the pace of inflation, which continues to fall short of the central bank's target. Traders see a 68% chance of a quarter-point cut by September, according to СМЕ. This is a negative signal for the U.S. currency! A bullish rally in the oil market will have a positive impact on the value of the British currency. U.S. sanctions on a subsidiary of Russian state oil major Rosneft could cut more Venezuelan crude from the market, rekindling global oil supply worries.

Trading recommendation: Buy 1.2892 and take profit 1.2930.