The negative signal for the British currency | 22 Juni 2020

22 Juni 2020, GBP/USD

The negative signal for the British currency

GBPUSD trading plan:

The Bank of England decided to slow the pace of its bond-buying program from the current £10-to-11 billion run rate per week. Against the backdrop of rising infections, and without the prospect of a vaccine anytime soon investors, some are worried the economic recovery is likely to stall. The country is affected by the deadliest COVID-19 outbreak in Europe, its shell-shocked economy may soon be facing a no-deal Brexit and potentially a second wave of the disease. This is a negative signal for the British currency!

Trading recommendation: Sell 1.2430 and take profit 1.2400.

David Johnson
Analyst of «FreshForex» company
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