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Investors close short positions

Investors close short positions | 03 Juni 2019

03 Juni 2019, GBP/USD

GBPUSD trading plan:

Investors close short positions on the British currency. According to COT, investment funds are reducing their short speculative position. Traders will take a break to assess the prospects of the British currency before the election of a new leader of the Conservative party. If the new leader of the party will be B. Johnson - we are see the sales of the British currency. B. Johnson has a negative attitude towards the European Union. We expect high volatility on Friday 7 June. We expect an increase in oil prices that will have a positive impact on the value of the British currency. Investors will close short positions in oil.

Trading recommendation: Buy 1.2625 and take profit 1.2660.

David Johnson
Analyst of «FreshForex» company
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