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Main » 2020 » February » 18 » How to make money on the currency? Trading Ideas traders 02/18/2020: Why the pound is fundamentally weak?
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How to make money on the currency? Trading Ideas traders 02/18/2020: Why the pound is fundamentally weak?

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GBPUSD The pair in trading Tuesday continues to be listed near the psychological level of 1.30. For the last day of the pound against the dollar it fell by 50 points, further departing from the local maximum of 1.3068 last week. Last Thursday, the pound was the biggest growth for two months, after the Rishi Sunako was replaced as finance minister of England its predecessor Sajid Javid. Personnel changes in the Government of Prime Minister Boris Johnson were welcomed by market participants. Recall that Johnson is planning to increase spending in several areas - infrastructure, police, health, education.

 

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It is believed that Sunako is actively supporting the policy of fiscal stimulus, and thus at it the chances of a significant softening of budget rules more yours than when Javid. Nevertheless, traders still believe that the potential easing of fiscal policy at any time, may outweigh the doubt in the ability of UK and EU to agree trade deal before the end of 2020, as well as the deterioration of the UK macroeconomic environment, increases the likelihood of a rate cut by the Bank of England has at the April meeting . An hour ago, the attention of traders were presented data on the state of the British labor market. Despite the fact that the unemployment rate remained at the same level, wage growth slowed.

 

Average weekly wages, excluding bonuses for this period increased by 3.2% after rising 3.4% in the previous three months. If tomorrow a similar weakness demonstrate and report on inflation, the pressure on the pound strengthened. With that said, we are sure to hold the "short" position on the GBPUSD pair.

 

GBPUSD SellLimit 1,3050 TP 1,28 SL 1,3110

 

Analytical reviews and comments reflect the personal opinion of the authors and are not a recommendation to trade. Author Artem Deev trader analyst AMarkets. Traders community is not responsible for any losses in the case of review materials.

 

 

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