Technical correction | 24 May 2019

24 May 2019, GBP/USD

Technical correction

GBPUSD trading plan:

Buy the British currency! The UK retail sales report for April may please traders with positive data. The increase in wages indicates an increase in retail trade in the United Kingdom. The UK retail sales contribute the majority to the British gross domestic product. Negotiations on BREXIT in the British Parliament will be held in early June. Political risks are decreasing - this is a positive factor for investors. Investors have been selling the British currency for ten trading days and we can expect a technical correction today.

Trading recommendation: Buy 1.2645 and take profit 1.2695.

David Johnson
Analyst of «FreshForex» company
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