19 March 2020, GBP/USD
GBPUSD trading plan:
Britain's government should spend 22 billion pounds over the coming year to help workers who face unemployment due to the coronavirus, a think tank said. The government should fund businesses to put staff who they did not need on paid leave with two-third of their normal salary for six months, rather than making them redundant. This would cost 8 billion pounds if it helped a million workers. Increasing the main unemployment benefits, which are no higher in real terms than in the early 1990s, to 100 pounds a week from 74 pounds a week, would cost 10 billion pounds. Increasing other means-tested benefits by 10% would cost a further 3 billion, taking the total cost to 22 billion pounds. This is good news for the British currency!
Trading recommendation: Buy 1.1535 and take profit 1.1600.
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