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New economic stimulus

New economic stimulus | 08 July 2020

08 July 2020, GBP/USD

GBPUSD trading plan:

In the U.S., confirmed cases passed the 3 million. Three officials from the U.S. Federal Reserve warned that increasing number of COVID-19 cases will hamper the country’s economic recovery. This is a negative signal for the dollar. The UK Treasury is organizing a new program to help people fight the pandemic. "Young people bear the brunt of most economic crises, but they are at particular risk this time because they work in the sectors disproportionately hit by the pandemic," British finance minister Rishi Sunak said. This is a positive signal for the British currency!

Trading recommendation: Buy 1.2520 and take profit 1.2575.

David Johnson
Analyst of «FreshForex» company
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