28 February 2020, GBP/USD
GBPUSD trading plan:
Activity in China's vast manufacturing sector likely shrank at the fastest pace since the global financial crisis in February as the coronavirus suspended large movements of goods and people in most parts of the country. This is a negative factor for “high-yield” assets and the British currency! The gloomy readings highlight the colossal economic damage to the world's second-largest economy from the coronavirus that has killed almost 3,000 people in mainland China and forced draconian travel restrictions and quarantine rules. Investors are increasingly worried the epidemic could turn into a pandemic, as the virus has spread beyond its epicentre in China to another 46 countries.
Trading recommendation: range 1.2850 -1.2915.
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