30 June 2020, GBP/USD
GBPUSD trading plan:
Geopolitical tensions are forcing investors to increase their short positions in the British currency. The U.K and EU resumed post-Brexit talks on Monday, but hopes of a resolution on key issues such as fishing policy and the commitment to a "level playing field" in competition are fading. The U.K. has made it clear it wants to take control over access to its waters and fish when the Brexit transition period ends, rather stick with the EU's Common Fisheries Policy, which set fishing quotas among EU member states. U.K. would have the right to deviate from the EU’s level playing field if it chooses to but the EU could impose tariffs.
Trading recommendation: Sell 1.2292 and take profit 1.2255.
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