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Good and bad news for the British currency

Good and bad news for the British currency | 17 March 2020

17 March 2020, GBP/USD

GBPUSD trading plan:

Good and bad news for the British currency. The number of confirmed coronavirus cases in the United Kingdom has risen to 1,610 the health ministry said on Tuesday. This is a negative signal for sterling. The European Union's new deal with Brexit Britain envisages a tight trade and security relationship. The draft, prepared by the bloc's executive Commission before a second round of talks this week, includes a reference to so-called "level playing field" provisions to ensure fair competition by keeping rules aligned. In case of trade disruptions, the bloc would be allowed to impose protective measures as soon as 15 days after notifying Britain, it also read.

Trading recommendation: range 1.2200 -1.2300.

David Johnson
Analyst of «FreshForex» company
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