11 Oktober 2019, GBP/USD
GBPUSD trading plan:
We are expecting the bullish rally to continue today! U.K. Prime Minister Boris Johnson hosted Irish premier Leo Varadkar. Varadkar said he believed a deal is possible before the end of the month, and urged negotiators to resume talks in Brussels.Both leaders “continue to believe that a deal is in everybody’s interest”. This factor caused a strong rally with the bulls. The uptrend in the oil market will provide additional support to the British currency today, as there is a correlation between GBPUSD and BRENT.
Trading recommendation: Buy 1.2445 and take profit 1.2500.