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Positive macroeconomic statistics from the UK

Positive macroeconomic statistics from the UK | 19 August 2020

19 August 2020, GBP/USD

Positive macroeconomic statistics from the UK

GBPUSD trading plan:

Investors are increasing their long positions on the British currency after the publication of positive macroeconomic statistics from the UK. Annual consumer price inflation rose to 1.0% in July from 0.6% in June, the Office for National Statistics said. The ONS said July's inflation number was based on near-complete coverage of its standard basket of goods and services, after widespread unavailability of some services at the start of the lockdown. The Bank of England said earlier this month it expected inflation to turn briefly negative in the near-term, falling to -0.3% in August.

Trading recommendation: Buy 1.3140 and take profit 1.3186.

David Johnson
Analyst of «FreshForex» company
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