16 March 2020, GBP/USD
GBPUSD trading plan:
The Federal Reserve launched a wave of $37 billion of Treasury security purchases under the enhanced market liquidity measures it announced on Thursday to address volatile conditions in the government bond market caused by the coronavirus outbreak. The purchases account for roughly half of $80 billion in planned monthly purchases that the Fed revised this week to include a wider range of maturities. That was a notable shift from the central bank's previous approach, which focused on short-term Treasury bills and was described as a "technical" program aimed at boosting the level of reserves in the banking system. This is a negative signal for the U.S. currency!
Trading recommendation: Buy 1.2360 and take profit 1.2415.
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