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The U.K. economy it lost momentum

The U.K. economy it lost momentum | 10 December 2020

10 December 2020, GBP/USD

The U.K. economy it lost momentum

GBPUSD trading plan:

Britain's economic recovery almost ground to a halt in October as a surge in coronavirus cases dealt a blow to the hospitality sector. Gross domestic product rose 0.4% on the month after expanding 1.1% in September, the Office for National Statistics said, the weakest growth since output collapsed in April during the first lockdown. Output in October was 7.9% lower than it was in February, before the pandemic struck Britain's economy, the ONS said, and 8.2% weaker than in October 2019. Although the economy picked up rapidly after the initial shock of the lockdown, it lost momentum as Covid-19 cases started to rise again in September and accelerated in October.

Investment idea: range 1.3280 -1.3350.

David Johnson
Analyst of «FreshForex» company
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