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Positive macroeconomic statistics from the United Kingdom

Positive macroeconomic statistics from the United Kingdom | 21 February 2020

21 February 2020, GBP/USD

Positive macroeconomic statistics from the United Kingdom

GBPUSD trading plan:

Positive macroeconomic statistics from the United Kingdom will have a positive impact on the value of the pound. Retail sales beat forecasts to rise by 0.9% in January after a 0.5% monthly decline in volumes in December. Factories reported stronger order books for February as well, with a monthly survey by the Confederation of British Industry pointing to the biggest rise in six months. Following a snap election in December, Prime Minister Boris Johnson returned to office with a comfortable majority. Business and consumer sentiment has improved since then, as Britain left the European Union on Jan. 31 with an 11-month transition deal.

Trading recommendation: Buy 1.2876 and take profit 1.2925.

David Johnson
Analyst of «FreshForex» company
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