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Positive macroeconomic statistics from the UK

Positive macroeconomic statistics from the UK | 29 July 2020

29 July 2020, GBP/USD

Positive macroeconomic statistics from the UK

GBPUSD trading plan:

Positive macroeconomic statistics from the UK force investors to increase their long positions in the British currency. The Confederation of British Industry's monthly retail sales balance rose to +4 from -37 in June, it’s highest since April 2019 but still signaling only modest year-on-year growth in sales. The more of the economy reopened following the covid-19 lockdown. "It's great to see retail sales stabilize this month, but this doesn't tell the whole story," said CBI chief economist Rain Newton-Smith.

Trading recommendation: Buy 1.2911 and take profit 1.2955.

David Johnson
Analyst of «FreshForex» company
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