Good and bad news | 21 May 2020

21 May 2020, GBP/USD

Good and bad news

GBPUSD trading plan:

Negative macroeconomic statistics from the UK force investors to sell the pound. Britain's inflation dropped to an annual rate of 0.8%from 1.5% in March, official data showed on Wednesday. That was the sharpest one-month fall in over a decade and took inflation further below the BoE's 2% target. Deputy Governor Ben Broadbent has said it could drop below zero by the end of 2020. A bullish rally in the oil market will support the pound. Oil inventories fell by about 5 million barrels for the week ended May 15, the EIA said. Cushing hub inventories fell another 5.8 million barrels, almost aligning with the decline in total inventories.

Trading recommendation: range 1.2190 -1.2260.

David Johnson
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
ปูมบันทึกอยู่ใน
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus