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Positive macroeconomic statistics from the United Kingdom

Positive macroeconomic statistics from the United Kingdom | 05 March 2020

05 March 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 British currency. The all-sector IHS Markit/CIPS UK Purchasing Managers' Index rose to 53.0 in February from 52.8 in January. The PMIs suggested Britain's economy is growing at a quarterly rate of just over 0.2%, faster than at the end of 2019, IHS Markit said. Britain's economy has shown signs of recovery since Prime Minister Boris Johnson's emphatic election victory in December. The business optimism across the sector hit its highest in nearly five years. Higher wages and other costs led to the fastest rise in average prices charged by service providers since November 2017.

Trading recommendation: Buy 1.2870 and take profit 1.2910.

David Johnson
Analyst of «FreshForex» company
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