Negative comments of the head of the Bank of England | 10 January 2020
10 January 2020, GBP/USD
GBPUSD trading plan:
The Bank of England Governor Mark Carney signaled that an interest-rate cut could still be on the horizon. This is a negative signal for the British currency. The central bank was debating the merits of near-term stimulus, adding that a rebound from Brexit uncertainty wasn’t guaranteed and that U.K. economic growth was below potential. Investors are increasing short positions in the oil market which is a negative signal for the British currency. Oil and the pound are correlated.
Trading recommendation: Sell 1.3088 and take profit 1.3048.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
