20 November 2020, GBP/USD
GBPUSD trading plan:
The Federal Reserve will conduct operations in the government bonds market, where it will buy US Treasury securities for $12.8 billion. This is the maximum volume of transactions over the past two weeks. Surplus reserves of American commercial banks have increased by $67.5 billion. U.S. Senate Republican Majority Leader Mitch McConnell has agreed to return to the table with the Democrats to try and hammer out a new COVID-19 relief package, which gives rise to hopes of a sustaining demand, rather than a fall. This is a negative signal for the U.S. dollar.
Trading recommendation: Buy 1.3260 and take profit 1.3310
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