GBPUSD – Flat
GBPUSD trading plan:
Investors are expecting the Federal Reserve to cut interest rates and increase long positions on the British currency. The Federal Reserve’s stimulus policy will have a positive impact on high-yield assets. The oil market will provide additional support to the pound. OPEC and its allies are due to meet in December to discuss whether steeper cuts to oil supply will be needed after the current agreement expires in March 2020. Many members of the oil cartel offer to reduce production of hydrocarbons to balance the market. This is a positive signal for the oil market!
Trading recommendation: Buy 1.2900 and take profit 1.2955.
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