The bullish rally | 28 Agustus 2019

28 Agustus 2019, GBP/USD

The bullish rally

GBPUSD trading plan:

We are expecting the continuation of the bullish rally on the British currency. The European Union is ready for new talks with British Prime Minister Boris Johnson. London and Brussels are ready to agree on a new BREXIT project. The debt market has seen an increase in the yield spread of UK and United States government bonds. This is figure has risen to the highest level in the last two years! This is factor forces investors to increase long positions on the British currency. The oil market will provide additional support to the pound. Oil prices gained in Asia as the American Petroleum Institute reported that U.S. crude inventories fell more than expected.

Trading recommendation: Buy 1.2260 and take profit 1.2308.

David Johnson
Analyst of «FreshForex» company
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