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Positive macroeconomic statistics from the UK

Positive macroeconomic statistics from the UK | 14 July 2020

14 July 2020, GBP/USD

Positive macroeconomic statistics from the UK

GBPUSD trading plan:

Positive macroeconomic statistics from the UK will have a positive impact on the value of the British currency. Gross domestic product rose by 1.8% in May after slumping by a record 20.3% in April, Britain's first full month of lockdown, the Office for National Statistics said. "The pick-up in output in May is more likely to reflect the partial release of pent-up demand as restrictions began to loosen, rather than evidence of a genuine recovery," said Suren Thiru, head of economics at the British Chambers of Commerce. "Today’s figures underline the scale of the challenge we face. I know people are worried about the security of their jobs and incomes," finance minister Rishi Sunak said.

Trading recommendation: Buy 1.2510 and take profit 1.2565.

David Johnson
Analyst of «FreshForex» company
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