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Negative macroeconomic statistics from the UK

Negative macroeconomic statistics from the UK | 05 November 2019

05 November 2019, GBP/USD

GBPUSD trading plan:

We are expecting a bearish trend in the British currency today. British construction activity shrank for the sixth month in a row in October - IHS Markit/CIPS construction PMI rose to 44.2 in October from 43.3 in September. "UK construction companies experienced a downturn in business performance during October as political uncertainty and subdued economic conditions again combined to hold back sales," IHS Markit economist Tim Moore said. Construction is an important element of the economy of the United Kingdom. British business fears BREXIT.

Trading recommendation: Sell 1.2900 and take profit 1.2861.

TRADE OILS WITHOUT SWAPS!

David Johnson
Analyst of «FreshForex» company
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