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British inflation picked up

British inflation picked up | 19 November 2020

19 November 2020, GBP/USD

GBPUSD trading plan:

British inflation picked up by a little more than expected in October. Consumer prices rose 0.7% in annual terms, after a 0.5% rise in September, the Office for National Statistics said. "The rate of inflation increased slightly as clothing prices grew, returning to their normal seasonal pattern after the disruption this year," said ONS deputy national statistician for economic statistics Jonathan Athow. Some surveys of consumers had pointed to renewed stockpiling as health restrictions spread through Scotland, Wales and Northern Ireland in October. A one-month lockdown was announced for England at the end of the month and started on Nov. 5. This is a positive signal for the British currency!

Trading recommendation: Buy 1.3210 and take profit 1.3280

David Johnson
Analyst of «FreshForex» company
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