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Negative macroeconomic statistics from the UK

Negative macroeconomic statistics from the UK | 27 May 2020

27 May 2020, GBP/USD

GBPUSD trading plan:

Eight out of 10 British retailers reported cash flow difficulties, down modestly after a nightmarish April, the Confederation of British Industry said. Supply chain disruptions worsened over the past month, the CBI survey showed, with a majority of retailers reporting shortages of some goods and increased cost pressures. More than half of the companies surveyed said they had laid off staff temporarily while 8% had made permanent redundancies. "The retail sector is at the sharp end of a crisis, with many businesses up against it," CBI chief economist Rain Newton-Smith said.

Trading recommendation: Sell 1.2315 and take profit 1.2280.

David Johnson
Analyst of «FreshForex» company
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