30 January 2020, GBP/USD
GBPUSD trading plan:
We are expecting an uptrend for the British currency. Expectations for inflation over the next 12 months rose to 2.5% in January from 2.3% in December, according to the survey by pollsters YouGov, which said the data reduced the chance of a Bank of England rate cut. Longer-term inflation expectations for the next five to 10 years increased to 3.1% from December's 2.9%, at the top end of a narrow range they have been in since August. YouGov polled 2,067 adults on Jan. 20 and Jan. 21. This is a positive signal for the pound!
Trading recommendation: Buy 1.2977 and take profit 1.3020.
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