09 June 2020, GBP/USD
GBPUSD trading plan:
Investors are increasing their long positions on high-yield assets. This is a positive signal for the British currency! China posted a record trade surplus of $62.93 billion last month, compared with the poll's forecast for a $39 billion surplus and $45.34 billion surplus in April. The Chinese government said in late May it was not setting an annual growth target, for the first time since 2002, reflecting a cautious stance on policy easing, although some expect domestic demand to bounce back somewhat, while export conditions remain unpredictable. Positive macroeconomic statistics from China will support “high-yield” assets.
Trading recommendation: Buy 1.2688 and take profit 1.2739.
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