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Negative macroeconomic statistics from the UK

Negative macroeconomic statistics from the UK | 05 June 2020

05 June 2020, GBP/USD

Negative macroeconomic statistics from the UK

GBPUSD trading plan:

Negative macroeconomic statistics from the UK signal the development of a downward trend. The IHS Markit UK Construction PMI rose to 28.9 from April's record low of 8.2, still a long way below the 50 dividing line for growth and the third-worst reading in the survey's 23-year history. "A gradual restart of work on site helped to alleviate the downturn in total UK construction output during May, but the latest survey highlighted that ongoing business closures and disruptions across the supply chain held back the extent of recovery," Tim Moore, economics director at IHS Markit, said.

Trading recommendation: Sell 1.2695 and take profit 1.2655.

David Johnson
Analyst of «FreshForex» company
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