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EU summit

EU summit | 11 April 2019

11 April 2019, GBP/USD

EU summit

GBPUSD trading plan:

Good and bad news for the British currency. EU leaders were set to grant Prime Minister Theresa May a second postponement to Britain's fraught exit at an emergency summit. EU summit chair Donald Tusk favored a longer, flexible extension of up to 12 months. The bad news is positive macroeconomic statistics from the United States. The Labor Department said its Consumer Price Index rose 0.4 percent, boosted by increases in the costs of food, gasoline and rents. That was the biggest advance since January 2018 and followed a 0.2 percent gain in February. Gasoline prices surged 6.5 percent, the biggest gain since September 2017, after rising 1.5 percent in February. Food prices gained 0.3 percent after accelerating 0.4 percent in February.

Trading recommendation: range 1.3025 -1.3125.

David Johnson
Analyst of «FreshForex» company
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