Forex Fundamental Analysis – The British pound received strong support

GBPUSD – Flat

The British pound received strong support

GBPUSD trading plan:

The British pound received strong support! Prime Minister Theresa May offered lawmakers the chance to vote next month in favor of a delay Brexit. The Bank of England published a worst-case no-deal Brexit scenario that showed Britain risks suffering an even bigger economic hit than during the global financial crisis 10 years ago. The voting in the British Parliament is scheduled for March 12. A delay would increase the chances of a reversal of Brexit, especially as the opposition Labour Party is tilting towards supporting another referendum. Traders are optimistic about the sterling and open long positions.

Trading recommendation: Buy 1.3230 and take profit 1.3283.

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