New monetary policy | 28 August 2020

28 August 2020, GBP/USD

New monetary policy

GBPUSD trading plan:

Fed officials have said in the past few weeks that economic growth will be subdued as the COVID-19 pandemic will negatively impact consumer spending. D. Powell noted that inflation in the United States has rarely exceeded 2% in the past two decades, so the Fed will not worry and take action if inflation rises above this level for several months. Keeping the Fed rates low for a long time will contribute to the continuation of the upward trend in this currency pair.

Trading recommendation: Buy 1.3280 and take profit 1.3337.

David Johnson
Analyst of «FreshForex» company
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