Keep an eye on going Long GBPUSD start of 2020.
With the conservatives winning a strong majority I believe the outlook for Brexit (and the UK economy) has improved. Running up to when Boris was elected and when the results came out the GBP initially rallied, then recently fell 4.35% since. As there is generally an inverse correlation between the FTSE and GBP (due to large cap FTSE companies making profits in USD), and with February historically being a weaker month, I think going long on GBPUSD is a good risk/reward trade. However, timing is crucial. The fundamentals are there, and there has been a double bottom formation on the weekly chart. This is educational and not investment advice.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.