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Positive macroeconomic statistics from the UK

Positive macroeconomic statistics from the UK | 01 April 2020

01 April 2020, GBP/USD

Positive macroeconomic statistics from the UK

GBPUSD trading plan:

Great Britain narrowed its current account deficit by more than expected in the last three months of 2019. At 1.0% of gross domestic product, it was Britain's smallest current account deficit since the second quarter of 2011. In 2019 as a whole, which smoothes out the swings in precious metal trading, the overall current account deficit narrowed to 3.8% of gross domestic product from 3.9% in 2018, the Office for National Statistics said. This is a positive signal for the British currency. The dynamics of the oil market will provide additional support for the pound. China's official Purchasing Managers' Index rose to 52 in March from a plunge to a record low of 35.7 in February, the National Bureau of Statistics said. This is good news for the oil market.

Trading recommendation: Buy 1.2306 and take profit 1.2385.

David Johnson
Analyst of «FreshForex» company
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