Trade24Fx
Long

News background and trading ideas as for 27/09/2018

FX:GBPUSD   British Pound / U.S. Dollar
Yesterday spent in waiting for the Fed decision. So, no wonder there were not strong moves - everybody was waiting for the verdict, comments of USA Central Bank . Since the event is significant - let's go through it in a separate review “Summing up the FOMC meeting or what shall we do with the dollar.” Until then let’s run through other news and remind you of our current trading ideas.
Brexit news is still quite dismal. In particular, the French Minister of Finance said that the deal with Great Britain, in which losses for the latter will be minimal, will create an extremely unpleasant precedent for the EU when it is a possibility to leave the EU without any consequences. All these statements are as a continuation of the big game, namely, bidding for the conditions of the agreement.
We will hear for sure such assumptions over the coming month.
The best confirmation in favor of the fact that you do not need to panic everytime is yesterday's reaction of the pound or rather a lack of such one to these allegations. Our position is sustained - we are looking for points for buying the pound.

Today's day in the news plan is primarily interesting in data on US GDP. It should be reminded; the preliminary and revised values were just excellent - the quarterly growth of the US economy exceeded 4%. Experts do not expect surprises from the final version of the indicator. We recall the consensus forecast is 4.2%. The number is merely gorgeous. So selling dollar after the publication of this kind of numbers would be very illogical.
Among other events, we would like to admit the beginning of the OPEC meeting. But should not be expected any results before the weekend. Recall that the current oil prices - this is an excellent opportunity for sales of the asset. It is not clear yet what will be the exact reason for purchases. This could be the outcome of the OPEC meeting, or maybe the printing of a strategic US oil stock and its sale.
Concerning the global vector, we are in the position of Goldman Sachs, who recently noted that OPEC and Russia would continue to increase oil output and thus compensate for the losses in the market supply caused by the economic crisis in Venezuela and US sanctions against Iran.

Other our trading ideas are stay sustained: looking for points for selling Russian ruble and Japanese yen against US dollar .
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I enjoyed reading your analysis, keep it up!
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Trade24Fx Sturgeus
@Sturgeus, thank you! we are trying to do our best.
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