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Good and bad news | 09 July 2020

09 July 2020, GBP/USD

GBPUSD trading plan:

Britain is facing a significant recession but it is too early to tell how quickly the economy will be able to recover, British finance minister Rishi Sunak said. "I am absolutely anxious about the state of the economy. We are... entering into a very significant recession, we know that that is happening," Rishi Sunak said. This is a negative signal for the British currency. U.S. office and apartment vacancy rates rose marginally in the second quarter from a year earlier. The U.S. office vacancy rate rose to 17.1% in the second quarter from 16.8%, a year earlier, while the U.S. apartment vacancy rate inched up to 4.8% from 4.6%. This is a negative signal for the U.S. currency.

Trading recommendation: range 1.2550 -1.2630.

David Johnson
Analyst of «FreshForex» company
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