25 Juli 2019, GBP/USD
GBPUSD trading plan:
Good day for the British currency! Negative macroeconomic statistics from the US will have a positive impact on the value of the pound sterling. Sales of new U.S. single-family homes rebounded in June, but sales for the prior three months were revised down. Sales in the Midwest dropped 26.3% to their lowest level since September 2015. While cheaper mortgage rates and the lowest unemployment rate in nearly 50 years are supporting demand for housing, expensive materials and land and labor shortages are constraining builders' ability to produce sought after lower-priced homes. U.S. crude stockpiles fell by 10.84 million barrels last week, almost three times the level forecast. We're expecting the continuation of the bullish rally in the oil market, which will affect the value of the British currency.
Trading recommendation: Buy 1.2460 and take profit 1.2510.
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